Mortgage FAQs

Our Most Frequently Asked Questions.

With our extensive mortgage expertise, we get asked a lot of questions. Below are some of our most frequently asked questions about mortgages(1) and related topics. Simply click on the question to see the answer.

Mortgage Questions & Answers

Why would I want to own a home instead of renting?

How do I know what I can afford?

What does it mean to lock in an interest rate?

What is a mortgage, exactly?

What are the advantages and disadvantages of a 15-year mortgage?

Should I pay points?

What is an appraisal and why is it necessary?

What is private mortgage insurance?

What is title insurance and why do I need it?

What is flood insurance and why do I need it?

What happens at closing?

What is a note?

Will the bank need to verify my assets for me to get my loan?

This is how I get paid—what do I need to know?

Do I need to provide the terms under which funds can be withdrawn from my retirement account?

I am getting a gift from my parents for my down payment. What do you need to show this?

My job was set up through a temporary staffing agency. Is that OK?

Get the ball rolling and see how easy banking can be.

Contact us or call 877.227.7548

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(1) All credit and loan products are subject to credit approval. Loan programs subject to qualification.

Note: It is our policy not to accept mortgage loan applications from individuals or businesses located outside of our trade area unless the applicant is a present customer or has made prior arrangements with a bank officer. If you are outside of our area and would like us to consider your mortgage loan application, please contact us.


While we offer this link for your convenience, please note that we are not responsible for the content provided by third-party websites. We encourage you to review the policies of any website prior to sharing personal information to ensure privacy and security. Any products or services accessed through this link are not provided by, endorsed or guaranteed by Plains Commerce Bank.

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