Your Government Lending Specialist    

      USDA, FHA, VA & Conventional Lender

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Browse Our Products

USDA

  • No Score & 1 Score
  • 600 minimum score for manual underwriting  (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • 640 minimum score for GUS Approve/Eligible
  • Manual Underwriting allowed
  • Escrow holdback available for repairs (follow USDA guidelines)
  • Manufactured homes accepted per USDA guidelines
  • Refinance USDA to USDA
  • Access to GUS available for Brokers & Correspondents

FHA

  •  NO SCORE & 1 score
  • 600 minimum score (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • Manual underwriting available - DTI options up to 47% (see matrix for details)
  • Streamlines accepted
  • Max DTI 55% with Approve/Eligible
  • Escrow Holdback available up to $5000 - see matrix
  • Manufactured & Modular Homes
  • Grants & DPA allowed
  • Follow FHA Guidelines
  • DU accepted
  • High Balance loans available

VA

  • No Score & 1 Score
  • 600 minimum score (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • Manual underwriting available
  • IRRRL's available - No Appraisal or AVM required
  • Max DTI 50% with Approve/Eligible
  • Escrow holdback available up to $5000 - see matrix
  • Manufactured & Modular homes
  • VA Approval with Flanagan State Bank required
  • DU accepted
  • Follow VA guidelines
  • High balance loans available

Conventional

  • 97% LTV - FNMA & FHLMC
  • 620 minimum score
  • subordinate financing allowed
  • follow agency guidelines
  • 1-4 Unit (O/O & N/O/O)
  • Cash Out
  • Escrow waiver allowed 80% LTV or less
  • Max 97% LTV
  • LPMI
  • Single Financed MI & Split Premium MI
  • Manufactured & Modular Homes 
  • Mortgage Insurance companies: Arch, MGIC, Genworth
  • High Balance Conventional now available.   Not shown on rate sheets or online pricing. Please contact lockdesk@flanaganstatebank.com for pricing.

Flanagan State Bank is a VA, FHA and USDA approved lending institution and is not acting on behalf of the VA, HUD/FHA, USDA or the Federal Government. 

Our Fees:

Underwriting/Commitment Fee for Brokered loans:  $914.00 **

Correspondent Loans:  $300

Correspondent Loan - closing docs: $75.00

Correspondent Loan - Initial Doc Prep: $100.00

Texas Legal Review: $125.00

Correspondent Non MERS Fee: $50

 **Brokered loans may use the buy out options for the UW fee found on the rate sheets

Services Offered:  

24 - 48 Hour Underwriting for new files and re-submissions!

Appraisal Ordering Service

With an approved roster of 3 - 5 local appraisers, you can order your appraisals through our Appraisal Department instead of an AMC Service.  We do not charge any additional fees for this service to be used.  The appraisers are happy because they get to retain their full fee for the service.  To use our Appraisal Department, simply email a completed Appraisal Roster Request to appraisal@flanaganstatebank.com. Once approved, you will receive a notification that you can start ordering appraisals through our department.  For complete details regarding our service, please click here:  Appraisal Ordering Policy & Agreement

 Scenario Reviews

We offer a pre-review to help you with those files that have a glitch or question on them before they go to underwriting.  Email us the 1003, credit report and 1008 along with a brief outline of the situation.  Send to scenarios@flanaganstatebank.com. 

Income calculation and review.  We will be happy to help you with those tough self employed borrowers or strange income situations.  Please send us 2 years tax returns for both personal and business.