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Loan Department
First Mortgages-dream loans for your dream home.
Buying a home soon? Financing it can be complicated, time consuming and expensive. At Westmark, we can reduce
your financing costs and ensure that you understand your best mortgage options. We offer the following conventional mortgage terms:
Jumbos
- Up to $500,000 90% maximum Loan-to-value (LTV)
- Over $500,000 80% maximum LTV
Conventional Mortgages
- Minimum of 5% down payment required
- Loans up to $417,000
- 10, 15, 20, 30 & 40 Year Terms Available
Manufactured Homes
- Must be brand new
- Placed on a permanent foundation with an attached 2-car garage
- 20% Down Payment required
- Maximum Term of 15 Years
Special Services and Benefits
- Retained Servicing
- Options to Buy Down Rates
- Dividend Earning Escrow Accounts
- Competitive Interest Rates
Simultaneous Second Mortgage Options
Avoid paying PMI with our Simultaneous Second Mortgage options. Second Mortgages have fixed rate terms of 5, 10 and 15 years. Second Mortgage terms cannot exceed the term of the First Mortgage Loan.
80/10/10 (1st Mortgage/Down Payment/2nd Mortgage)
- 80% 1st Mortgage
- 10% Down Payment
- 10% 2nd Mortgage
80/15/5 (1st Mortgage/Down Payment/2nd Mortgage)
- 80% 1st Mortgage
- 15% Down Payment
- 5% 2nd Mortgage
Westmark retains all mortgage servicing with in-house underwriting.
All mortgages are subject to an origination fee of 1% ($750 minimum).
All loans are on an approved credit basis.
So if you're in the market for buying a new home or refinancing your existing home,
call our Real Estate Department today at
(208) 552-1035.
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