Jenna Bauer is now a Mortgage Lender at Merchants Bank in Hastings

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Jenna Bauer, Mortgage Lender

Already a familiar face to the customers at Merchants Bank in Hastings, Jenna Bauer has accepted a new role as a Mortgage Lender at Merchants, according to Merchants Bank in Hastings President Bruce Goblirsch.

Bauer has been with Merchants for six years, working with customers as both a Customer Service Representative and a Lead Teller.

“Jenna understands and is committed to our customers,” Goblirsch said. “They already know how good she is at helping them get what is best for their banking needs. Her new mortgage customers will find that out as well.”

Bauer said knowing the Hastings customers and the Hastings market is a bonus to her as she starts as a Mortgage Lender.

“I’m looking forward to helping my current and my new customers in a different way, working with them to get into the home they want and fitting them with the best mortgage to meet their needs,” Bauer said. “I want them to know that I’ll be there for them from start to finish.”

Long-time Hastings Mortgage Lender John Aarness is retiring at the end of June.

Merchants Bank Twin Cities locations include Hastings, Apple Valley, Cottage Grove, Lakeville and Rosemount. Merchants Bank has 21 locations in southeastern Minnesota and west-central Wisconsin, including Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing and Hampton.  Merchants has Wisconsin locations in Eau Claire and Onalaska. All banks are FDIC members and equal housing lenders. Subject to approval. Twin Cities-based Merchants Bank Equipment Finance is a division of Merchants Bank, N.A.

Ashley Seaver Joins the Team at Merchants Bank in Lakeville as a Mortgage Lender

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Ashley Seaver has been promoted and joined the team at Merchants Bank in Lakeville as a Mortgage Lender, according to Dan Vlasak, President of Merchants Bank in Lakeville.

Seaver had been a mortgage loan coordinator for Merchants Bank prior to her promotion. She spent two-and-half years coordinating loans in the Lakeville office, primarily processing construction loans. Her experience also includes work coordinating loans for Merchants’extensive network of correspondent mortgage banking customers. Merchants Bank’s $2.4 billion correspondent network has correspondent relationships with 71 charters and 159 locations in North Dakota, South Dakota, Iowa, Minnesota and Wisconsin.

“Ashley’s experience with our system, work with a variety of different customers, her attention to detail and true passion for helping customers will make her an exceptional mortgage lender,” Vlasak said.

Seaver said she is looking forward to working with individuals and families and helping them secure the homes of their dreams, or help them start the process of building a home.

“Home buying or building can be stressful, but it doesn’t have to be,” Seaver said. “If people are looking for a professional to help them with the process from start to finish, they should contact me.”

Merchants Bank has 21 locations, including Lakeville, Hastings, Apple Valley, Cottage Grove, Rosemount, Cannon Falls, Red Wing, and Hampton and other Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent and Spring Grove. Merchants has Wisconsin locations in Eau Claire and Onalaska. All banks are FDIC members and equal housing lenders. Subject to credit approval. Twin Cities-based Merchants Bank Equipment Finance is also a division of Merchants Bank, N.A.

Susan Clark is Now a Mortgage Lender at Merchants Bank

 

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Susan Clark, Mortgage Lender

Susan Clark is now helping customers in her role as Mortgage Lender at Merchants Bank in Winona, according to Sue Hovell, Director of Retail Banking Performance.

“Given her background, knowledge of the Winona market and her desire to provide customers with guidance and walk them the mortgage process from start to finish, we know Susan is an important addition to our growing Winona mortgage team,” Hovell said.

Clark has been serving Merchants Bank customers in a number of roles since 2003 and has been a Winona resident for most of her life. Her background includes finance, lending, and bank compliance. She is certified as an American Bankers Association Residential Mortgage Lender.

“With the wide variety of home financing options available and what seems like a mountain of paperwork before you start, it can be intimidating to know where to begin,” Clark said. “I can help, and look forward to making the process as clear and stress-free as possible for our customers. I truly want to be there every step of the way.”

Clark points out that her experience as part of their family business allows her to understand the complexities self-employment can create when applying for a home mortgage. Clark volunteers her time throughout the community in support of area schools as well as many non-profit organizations.

Home Construction Loans: The Basics

Construction loans at Merchants Bank

Have you always dreamed of building your own home, but you aren’t sure where to start? Follow this easy guide to learn the basics of construction loans.

What is a construction loan?
A construction loan is a loan used to pay for the cost of building a new home. When construction on your house is complete, you’ll need to obtain a new loan to pay off the construction costs. At Merchants, we offer construction to permanent financing, which allows customers to borrow for the construction phase and modify that loan to allow them to pay off the construction costs in one simple process.

How does it work?
For qualified applicants, Merchants requires a minimum down payment of 5% if the purchase price is under $417,000. If the purchase price exceeds $417,000, a down payment of 10% is required. With a 5% down payment, you will have a single loan with mortgage insurance at 95%.*

Once you have obtained financing for your construction loan, the builder will typically take draws (payments) throughout the construction phase. During the construction process, you will only be charged monthly interest payments on the amount of the loan advanced.

How do I apply?
Apply online at www.merchantsbank.com or visit your local Merchants Bank to speak to a mortgage lender. After reviewing your application and other information, you will be notified if you’ve been preapproved for both a construction and permanent loan.*

Read our complete guide for successful construction or remodel through the construction loan process, which covers:

  • What information is needed upon application
  • Bids, draws and cost overruns
  • Appraisal value
  • And much more

*Subject to credit approval.
Maximum financing is the highest loan-to-value which varies based on the loan product