FAQ | Loans

Q: Can I apply online?

A: Wauchula State Bank is a community bank that believes in personalized service. Instead of applying online, we want you to talk to a real person who can listen to your individual needs. Our local lenders are committed to providing the expert advice and personal service you deserve.


Q: Do offer fixed and adjustable rate loans?

A: Yes, we offer both


Q: Do you require a minimum credit score to apply for a loan?

A: Your credit history carries a lot of weight when underwriting a loan; however, we don’t stop at your credit score. We analyze your entire credit history as part of our credit decision. Although some types of loans do require a minimum credit score, we offer options for those with less than perfect credit.


Q: If I am purchasing a new home, do I need to have a contract before applying for a loan?

A: No, we can complete a pre-qualification to determine the loan amount and product that best suits your needs.


Q: Do I need to have a checking or savings account at Wauchula State Bank in order to apply for a loan?

A: No, we do not require either. We are glad to work with applicants that are new to WSB.


Q: Do you do business loans?

A: Yes, we offer loans for business owners with fast and local decisions. We provide commercial financing for real estate, equipment,lines of credit, expansion or inventory expenses and more!


Q: How long before I know if I am approved?

A: While the actual timing varies according to the type of loan you are applying for, all loan decisions are made locally by our experienced lenders who strive to make the process as quick and easy as possible.


Q: I received a bill for my property taxes but thought this was included in my monthly loan payment?

A: If your property taxes are escrowed on your loan, you may still receive a statement from the county tax collector, but Wauchula State Bank will automatically pay this for you each year. Please contact us if you have questions or are not sure if your taxes are escrowed.


Q: I received my monthly billing notice and noticed that my payment has increased. Why did it go up?

A: If your property taxes or your homeowner's insurance are escrowed on your loan, it is possible that one of those payments increased and your monthly loan payment was adjusted to cover the additional cost. If you have an Adjustable-Rate Loan, it is also possible that your interest rate changed causing an increase in your payment amount. Feel free to contact us for additional information.


Q: Do you require that I have mortgage insurance on my loan?

A: If you finance more than 80% of the Loan-to-Value, mortgage insurance may be required and added to your monthly payment amount.


Q: Is a home inspection required for a new home purchase?

A: Wauchula State Bank does not require a home inspection but you may choose to have an inspection done on the property you want to purchase.


Q: Will I receive a copy of my appraisal?

A: Yes, if we order an appraisal to determine the property’s value, we will promptly give you a copy of the appraisal even if your loan does not close.


Q: Do you do debt consolidation loans?

A: Yes, we will work with you to determine what best meets your individual borrowing needs.