Johnson Bank

Johnson Bank has more than 50 offices in Wisconsin and Arizona. In addition to checking and savings accounts and deposit and lending services, the company also offers insurance, asset management, and mutual funds. The group offers international banking services through its Banque Franck Galland & Cie subsidiary, which is based in Switzerland.   The bank was founded in 1970 by Samuel C. Johnson of S. C. Johnson & Son.  He felt that banks should be about service, values, and integrity, the core values of his consumer goods company.  His first location was in Racine, Wisconsin, and over the past 35 years, it has grown into a diverse financial services company with nearly $4 billion in assets. 

Johnson Bank offers many special features with their loans.  The borrower may get pre-approved for a loan before he begins shopping for a home.  This option aids in determining which houses are affordable and will speed up acceptance of an offer.  Johnson also offers quick loan approvals, often the same day as the application. An appraisal may not be required with Johnson Bank.  Johnson Bank will let the borrower lock in a rate at the time of application.  If the rate goes up, the loan still funds at the lower rate, but if the rate goes down the borrower has the option to lock in the lower rate for a small fee.  Johnson Bank does not charge a fee to set up and collect the monies for property taxes. 

Johnson Bank Mortgage Loans Options

Johnson Bank offers various mortgage loans. They offer fixed rate mortgages (in which the interest rate stays the same for the life of the loan).  Adjustable rate mortgages are also offered.  In this type of loan, the interest rate stays fixed for a certain term and then returns to the market rate.  For the borrower who is planning to build his own home, a construction loan is available through Johnson Bank.  This type of loan allows the builder to borrow during the construction period and pay interest only during that time.  Once construction is complete, the loan may become the permanent funding for the property.  This saves the owner or builder time and money by only having one set of documents, closing costs and application fees.   Balloon mortgages (fixed rate mortgages which are paid in full with a single balloon payment) are also offered.  The loan amount is amortized on a 30 year payment schedule, but the loan is for a shorter term with a single (balloon) payment due when the term is up.  Johnson Bank funds jumbo loans which exceed the limits set by Fannie Mae.  Bridge loans are approved by Johnson Bank. A bridge loan is a short-term loan secured by a mortgage on your present home. It allows you to utilize equity from the current home to complete the purchase of a new home before the current home is sold.  Bridge loan financing is available based on the appraised value of the existing property. Interest-only payments are made during the term of the bridge loan.  In Wisconsin, Johnson Bank funds the Wisconsin Veterans Loan and the Wisconsin Housing and Economic Development Agency loans.  Rural Development Loans are also available in Wisconsin for qualified properties. 

Johnson Bank also has home equity loans and lines.  A home equity loan is a fixed rate and payment loan based on the available equity in your home. You get your money all at once and then pay it back in predictable, fixed monthly payments.  A home equity line is also based on the equity in the property, but it is a revolving credit account.  The money may be borrowed and repaid as often as necessary over the term of the line.

The potential borrower may call the Johnson Bank central number or a branch near him for service, or may walk into any branch.

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