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If you're like most folks, buying or refinancing a home is probably the largest financial transaction you'll undertake in your lifetime. That's why it's vitally important to have the skills of an experienced lender on your side. Ask any Realtor in the Galesburg area, and you'll find that F&M Bank is one of the most trusted names in the mortgage lending business. You'll find a wide range of financing options, competitive interest rates, and most important of all, great service!

Our mortgage loan professionals are second to none!  Stop in, call or email us and we will take the worry and hassle out of your home mortgage experience.

Cabrera-Karen-small Wheeler-Amy-small

Karen Cabrera
Assistant Vice President
Residential Mortgage Loan
NMLS# 742269

1230 N. Henderson St.
Galesburg, IL
309.343.0002 ext. 21500
Email Karen

Amy Wheeler
Residential Mortgage Loan
NMLS# 1109538

21 E. Main St.
Galesburg, IL
309.343.0002 ext. 20601
Email Amy

 The emails above are not a secure form of communication! Please do not include your Social Security Number or any account information.

Special Mortgage Lending Services  
 Free Pre-Approval
If you're home shopping, our Pre-Approved Mortgage program can be a big help. You'll have advance information on the price range you can afford which makes it easier to narrow down your search and zero in on the perfect home. Your status as a pre-approved buyer also lets home sellers and Realtors know in advance that they're dealing with a qualified purchaser. And when your offer to purchase is accepted, your loan application can be processed more quickly because the preliminary paperwork has already been completed!

Local Loan Servicing

With most of our loan programs, you'll have the option of having your mortgage serviced right here in Galesburg by The F&M Bank. You'll enjoy the convenience of dropping off your payments at any of our banking locations. And whenever a question or issue arises, friendly, courteous assistance is only a local phone call away!

Escrow Services

If your mortgage is held by The F&M Bank, our escrow services are available to you free of charge. With an escrow account the cost of real estate taxes, homeowner's insurance and similar items is automatically included in your monthly mortgage payment. When taxes, insurance premiums and other expenses are due, we'll pay them on your behalf. It helps with household budgeting, eliminates the possibility of forgetting to make important payments.
Mortgage Loan Programs  
Fixed Rate Mortgages
  • Conventional
  • FHA
  • VA
Traditionally one of the most popular ways to finance a home, our Fixed Rate Conventional Mortgages feature your choice of terms and, as the name implies, a fixed rate of interest that's locked in for the life of the loan.
  • Choice of available terms
  • Fixed interest rate
  • Rate buydowns are available
  • Must meet some down payment requirements
  • Repaid in convenient monthly installments
  • Escrow service available for taxes and insurance

1-Year Adjustable Rate Mortgage
Our 1-Year ARM traditionally gives you more buying power than a comparable fixed rate mortgage because the beginning interest rate is lower. Monthly payments are lower, too. What's more, if market rates go down, you'll automatically benefit from lower rates and payments without the time and expense involved in refinancing your mortgage.
Choice of available terms

  • Interest rate varies annually
  • Rate adjustments tied to an independent Treasury index
  • Annual and lifetime rate adjustment caps provided for borrower protection
  • Must meet some down payment requirements
  • Repaid in convenient monthly installments
  • Escrow service available for taxes and insurance
  • Friendly, local, in-house servicing by F&M Bank for the life of your loan
3-Year Adjustable Rate Mortgage
This program is identical in virtually all respects to our 1-Year ARM (see above) except that interest rates and monthly payments are adjusted once after 3 years and then every 1 year afterwards. It provides a greater degree of stability during periods when interest rates in general are on the rise.
Illinois First Time Home Buyer Program
A low-cost, fixed rate mortgage program available to borrowers who have not owned a home for the past three years. Benefits include low interest rates, reduced closing costs, relaxed down payment requirements and flexible terms. Some purchase price, property and borrower income limits apply. For complete details and to check for current funding availability, visit the IHDA website at or contact one of our mortgage lending specialists.
USDA Rural Development Loan Program
We're an approved lender for this special guaranteed loan program offered under the auspices of the U.S. Department of Agriculture for the purchase of rural residential properties.
  • Fixed interest rate
  • Zero down payment with no Private Mortgage Insurance (PMI) requirement
  • Repaid in convenient monthly installments
  • Targets rural residential properties
  • Escrow service available for taxes and insurance
  • Loan servicing sold in the secondary market (in-house servicing not available)
Some purchase price, property and borrower income limits apply. For complete details, contact one of our home mortgage specialists.
Bridge, Construction & Interim Financing
If your plans include building a new home or finding interim financing for the period between the sale of your existing home and the purchase of a new one, contact one of our real estate lending specialists. Over the years, we've found that each situation is unique, and we'll be happy to put together a financing package that meets your special needs!