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Lending

Personal Lending

Walk in for a loan…walk out with a check!

Do you need a personal loan to pay off high-interest debt or unexpected expenses?  Or are you dreaming of buying a new or used car?  We can help!  Whatever your personal financing needs are, the personal lenders at Superior National Bank provide fast service and flexible loan terms.

We offer 100% financing for new and used:

  • Vehicles, motorcycles, ATVs, snowmobiles
  • Campers, boats, motorhomes
  • Numerous other items

We also offer:

  • Unsecured loans
  • Loans secured by your SNB savings account or certificate of deposit
  • Loans secured by stock

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Details of item being purchased  (e.g. year, make, model, VIN)
  • Good credit standing

Helpful Links:

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Business Lending

If you need help growing an existing business or starting a new business venture, the experienced business lenders at Superior National Bank will work with you to satisfy your financing needs.

Available Products:

  • Commercial real estate purchases and refinances
  • Construction loans
  • Equipment loans
  • Lines and letters of credit
  • Inventory and working capital loans
  • Small business administration (SBA) loans

Requirements:

  • Completed application
  • Two years of business financial statements or tax returns
  • Business plan (if starting a new business venture)
  • Cash flow projections
  • Corporate papers or partnership certificates
  • Resolution to borrow
  • Cash down payment or other collateral to pledge (depending on the loan amount)
  • Good credit standing

Helpful Links:

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Mortgage/Home Equity

Buy or Refinance a Home

At Superior National Bank, we understand that buying a home is one of the most important investments you will make.  Whether you are looking for a fixed rate, conventional mortgage or a balloon mortgage, our experienced mortgage lenders will be there to guide you through the process, from application to closing.

Fixed Rate Mortgage:

  • Competitive rates
  • Lengths of repayment period vary (depending on the loan amount)
  • Rate locked in for the life of the loan

Balloon Mortgage:

  • Flexible down payment requirements
  • Lengths of repayment period vary (depending on the loan amount)
  • Rates locked in for the length of the balloon period
  • Various balloon options available
  • Interest rate discount with an active SNB deposit account
  • Loans stay at SNB, so you can make your payments at any of our branch locations

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Good credit standing

Helpful Links:

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Construction Loans

When you’re planning to build your dream home, you have enough to worry about.  So let Superior National Bank handle the financing aspects of your project.  

  • Financing up to 80 percent of the appraised value of the home or the cost of construction (whichever is lower)
  • Pay on a monthly basis only the interest on funds you have used to date

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Good credit standing

Helpful Links:

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Home Equity Loans

You’ve worked hard for your home; now let it start working for you.  Did you know that the equity in your home can be used to finance home improvements, your child’s education, or a relaxing vacation?  Our mortgage lenders can assist you in finding an option that satisfies your specific needs.

Home Equity Line of Credit:

  • Draw period of 5 years (during which you can use funds up to your credit limit) followed by a repayment period of 10 years
  • Monthly payments as low as interest owed on the outstanding balance during the draw period
  • Easy access to funds using online banking or home equity checks
  • Low closing costs
  • Finance up to 80 percent of your home's appraised value after taking into account your first mortgage (up to 70 percent of your home's appraised value after taking into account your first mortgage with another bank)

Home Improvement Plus:

  • 5 year, fixed rate loan
  • Low closing costs
  • Funds may be used for home improvements or personal needs

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Good credit standing

Helpful Links:

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Vacant Land Purchase or Refinance

Have you found that perfect piece of property?  Superior National Bank has flexible terms available so you can finance and purchase your dream location. 

  • Lengths of repayment period vary (depending on the property and loan amount)
  • Rates locked in for the term of the balloon
  • Various balloon options available
  • Interest rate discount with an active SNB deposit account
  • Loans stay at SNB, so you can make your payments at any of our branch locations

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Good credit standing

Helpful Links:

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Guaranteed Rural Housing Loan

This government guaranteed loan program was designed to assist applicants with low to moderate incomes purchase a single family home with a 30 year, fixed rate, no-down payment required loan.

  • Option to include some closing costs in the loan amount (depending on the home's appraised value)
  • Mortgage insurance not required

Requirements:

  • Valid photo ID
  • Completed application
  • Proof of income
  • Cannot currently own a home
  • Only for the purchase of a primary residence
  • Must have acceptable credit history
  • Income cannot exceed the moderate income level established for the county
  • Additional requirements available for review at http://www.rurdev.usda.gov/MI_SFHGuar.html

Helpful Links:

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