When it comes to buying a home or property there are a few options for paying for the most important purchase of your life.
Option 1: Paying Cash
Paying cash is not the most common way for people to pay for a home or property but it by far the safest and most secure. Paying cash for a home or property means you will have to save up the money or come into some money in some way such as an inheritance. Even if you can’t pay cash in full for a home having some cash on hand for a healthy down payment on a mortgage is always a great help in getting approved for a mortgage.
Option 2: Renting to Own
Renting to own is an option for purchasing a home. It has some advantages if your is not the greatest and are set on purchasing a home before getting your credit score in order. The major disadvantage is that the payments made to the seller directly don’t get reported to help you improve your credit score. The interest rate charged by the seller may be higher than current interest rates. A buyer needs to make sure that the purchase contract is fair for both sides of deal.
Option 3: Getting a Mortgage
Short of paying cash getting a home mortgage is a good alternative. It is important to have your credit score in good order, your other debts paid off or very close to being paid off, and having at least 20% down payment helps the process a great deal. However, there are some no downpayment options available. For those options, you would have to speak a loan professional at the bank.
Cherokee County, Iowa has several financial institutions to choose from.
For your convenience, we have listed them here in alphabetical order.
DISCLOSURE: Delta Properties does not endorse any one bank over another. It is the buyer’s responsibility to investigate which financial institution is the best fit for their home mortgage needs.
|Central Bank||401 W. Main Street||Cherokee||IA||51012||712-225-2546||https://www.centralbankonline.com/|
|Cherokee State Bank||212 W. Willow Street||Cherokee||IA||51012||712-225-3000||https://www.cherokeestatebank.com/|
|Farmers State Bank||106 E. Cedar||Marcus||IA||51035||712-376-4154||https://www.fsbmarcus.com|
|Heritage Bank NA||148 Main Street||Aurelia||IA||51005||712-291-3646||https://www.heritagebankna.com|
|North Star Community Credit Union||1030 S. 2nd Street||Cherokee||IA||51012||712-225-5731||https://www.nsccu.org/|
|State Savings Bank||200 S. 2nd Street||Cherokee||IA||51012||712-225-6117||https://secure.yourfullservicebank.com|
|State Savings Bank||719 S. HWY 143||Marcus||IA||51035||712-376-2434||https://secure.yourfullservicebank.com|
|United Bank of Iowa||111 E. 2nd Street||Aurelia||IA||51005||712-434-2291||https://www.unitedbk.bank|
|United Bank of Iowa||101 N. Lewis Avenue||Cleghorn||IA||51014||712-436-2222||https://www.unitedbk.bank|
|United Bank of Iowa||100 W. Pine Street||Marcus||IA||51035||712-376-5511||https://www.unitedbk.bank|
The agents at Delta Properties are here to help in any way we can. If you have any questions regarding your real estate needs don’t hesitate to Contact Us. We are happy to help!