Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Potter State Bank is partnering with Pivot Lending Group, offering mortgage options in Cheyenne County.
The real estate markets in Colorado and Cheyenne County have created an attraction to Nebraska of buyers and finance companies, and of banks looking for ways to help buyers.
Potter State Bank and Pivot Lending Group are in a partnership that will soon offer another option to home buyers in the Cheyenne County area. David Olson, regional manager and senior mortgage loan originator for Pivot Lending, says they are the behind-the-scenes players for banks and credit unions. He said Pivot Lending Group approached Potter State Bank after watching the trend of Colorado buyers seeking real estate in the Sidney area.
He said recently the partnership was started about two months ago, and borrowers can expect service in the next 90 to 120 days.
“Colorado has gotten so expensive to own a home,” Olson said.
He added they looked at a financial institution that could serve Sidney, possibly to Scotts Bluff.
“Potter seemed to work for us,” he said. “We tend to do well with community banks that focus on agriculture.”
Olson also cited the number of borrowers identified in the Potter area.
He said Pivot Lending has its own marketing department that monitors the local real estate trade and keeps in contact with investors.
“We can handle Fannie Mae, Freddie Mac, conventional loans, FHA, VA and USDA loans. The company also helps with Down Payment Assistance. They can also do acreage loans.
Olson said the underwriting is out of Colorado. He added the goal is to have a loan closed in 25 days with two touches or less. He said they are one of few companies that can close an USDA loan in 30 days or less.
Olson said partnerships with Pivot Lending often lead to banks continuing the mortgage business on their own.
“At some point, they’ll leave us,” he said.
He added when a bank leaves the partnership, Pivot Lending remains as support.
To learn more about the program, contact Potter State Bank at 308-879-4451.
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