Whether you are in the market for your first home, a vacation property, retirement home, or just looking to leverage the equity you have in your current property, our knowledgeable Mortgage Lenders can help you find the right mortgage loan.
If you have been shopping around, but have not found the perfect home, why not build your dream house? A construction loan covers the cost of home construction or home improvement. We disburse funds either as needed or as each stage of a project is completed. These loans are usually secured by real estate and have terms between 3 and 18 months, depending on the project’s length. At the end of the construction term, the loan is typically refinanced as a long-term takeout loan. If you finance both loans with us, you may be eligible for discounts on fees. We also offer construction loans for manufactured homes.
Secondary Market Home Loans
When you have found the home you want to purchase, we originate these home loans and then sell them to a secondary market purchaser who assumes servicing responsibilities for the loans. Secondary market loans usually provide fixed rates for up to 30 years. Rates for these loans are priced by the Secondary Market, a competitive marketplace.
In-House Mortgage Loans
If you prefer your loan and loan servicing to remain at TrailWest Bank, we also originate and service long-term home loans. These loans feature fast turnaround times due to more flexible in-house underwriting standards. In-house mortgage loans are typically competitive with Secondary Market rates. Customers often prefer our in-house loans to Secondary Market loans due to their comparable flexibility and simplicity, even if the rate on any given day is marginally higher than the Secondary Market. These loans usually span terms between 10 and 30 years.
Home Equity Lines of Credit (HELOC)
A HELOC is a line of credit extended to homeowners who use their homes as collateral. The bank determines the amount of unencumbered equity the home has and loans out a percentage of that equity. The homeowner may draw and repay the line of credit as needed. HELOCs typically have terms between one and five years, with interest being charged on the outstanding debt.
Second Mortgage Loans
Like a traditional home mortgage, a second mortgage uses the remaining unencumbered equity in real property to extend funds. These loans typically have terms of up to 20 years.
To inquire about TrailWest Banks consumer and real estate loans, click here (https://trailwest.bank/mini-application/) or contact a lender at your local branch.