Coronavirus Update

Your safety and well-being is our top priority at Bank Midwest. Due to increasing COVID activity in the Lakes Area, our Spirit Lake and Okoboji lobbies are closed until July 13. Please use our drive-up, digital channels, video tellers (ITM) or call 888.902.5662 for assistance. Learn more at bankmidwest.com/coronavirus/.

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Help Center: Loans

Frequently Asked Questions

Learn about our loans, how to apply, where to make a payment and more.

Don’t see an answer to your question? Check out our help center for more information about other topics or contact us directly. Call 888.902.5662 with any questions pertaining specifically to loans.

Loan Options

Rates

Secure File Upload

  • How do I send files securely online?

    Upload files online securely to your banker or lender.

    Fill out the required fields: name, email, company. If you do not work for a company, simply fill in Self or N/A.
    Upload your files.  Up to 5 documents can be uploaded in one step including large files — up to 2 GB
    Submit. You do not need to contact your banker. An email will be sent alerting them that you’ve sent documents for their review.

    Note: With the rise of identity theft, we don’t recommend emailing confidential information like your social security number, account numbers, etc. Examples of documents containing sensitive information include:

    • Tax returns
    • Bank or financial statements
    • Pay stubs and driver’s license copies

Loan Payments

  • How do I request a loan payoff?

    Primary or secondary owners of loan accounts in Iowa, Minnesota or South Dakota can request a loan payoff online here.

    Third-party requestors can also use the online payoff form, but they must also submit a Borrower’s Certification and Authorization form signed by the primary and secondary owners, and they must do so within 90 days of the payoff request.

  • How do I make a loan payment?

    Pay with a Bank Midwest deposit account using online banking.
    This is the easiest option. Use your online banking account to transfer money directly from your checking account to your loan account. You can do this via desktop, laptop or through the Bank Midwest mobile app.

    Pay with an account from another financial institution using our loan payment website.
    Don’t have a Bank Midwest checking account? No problem! Pay online using an account from another financial institution with our loan payment website.

    Pay via mail.
    Mail your loan coupon and payment to:

    Bank Midwest Loan Processing
    1920 Center Creek Dr
    Fairmont, MN 56031

    Iowa Bankers Mortgage Corporation (IBMC) Customers
    Contact IBMC Loan Servicing.

  • How do I learn more about Bank Midwest’s loan officers?

    Our team of highly specialized and seasoned loan officers is a point of pride for Bank Midwest. From personal lending, to commercial, agriculture, real estate and mortgage, we have someone who can help you make the loan process as smooth and efficient as possible.

    Get to know our loan officers by checking out our Lenders Directory, or you can stop by a Bank Midwest and say hello in person.

    You can find our mortgage lenders’ Nationwide Mortgage Licensing System (NMLS) Registry Numbers here.

  • What if I don’t see a lender in my immediate area?

    Reach out to a lender in a branch nearest to you. We may still be able to help.

Loan preparations

  • What will I need when applying for a mortgage?

    Whether applying online or in person, you’ll need to supply us with certain documents to complete the application process. Please bring the following documents when you meet with your mortgage specialist to complete your file:

    • Tax returns for the last two years (if self-employed).
    • Bank statements from the last two months.
    • Pay stubs from the last 30 days.
    • Signed copy of the real estate purchase agreement (if applicable).

     

    We may request additional information based on your situation. Don’t hesitate to call us with any questions.

  • What will I need for a business or farm loan?

    We’ll need certain documentation depending on the type of loan you’re looking for so we can make sure we present you with the best financing options for your needs.

    Existing businesses.

    • Personal financial statements for all owners of the business and guarantors.
    • Two years of personal tax returns for all owners of the business and guarantors.
    • Two years of tax returns for the business.

    New businesses or startups.

    • Personal financial statements for all owners of the business and guarantors.
    • Two years of personal tax returns for all owners of the business and guarantors.
    • Business plan that includes a summary of the business and projections for revenues and expenses.