HOME LOANS - PURCHASE FINANCING
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For most of us, buying a home is one of the biggest and most important purchases we'll make in a lifetime. At Timberland Bank, we've been helping individuals and families achieve their dream of owning a home for 95 years!
We know that your home purchase is a unique and personal experience and we're here to help you every step of the way. You can truly have YOUR HOME ... YOUR WAY !
When it comes to home mortgages, one size does not fit all. Our knowledgeable, experienced lenders will assist you in finding the perfect financing solution for your individual needs. Another benefit you'll appreciate is that we provide local loan servicing, which means we don't sell your records.
COMPETITIVE RATES - FLEXIBLE TERMS
We offer competitive rates and flexible terms and conditions, plus great conveniences like Automatic Payment Service (APS) which means you never have to worry about missing a due date or making late payments.
GET PRE-APPROVED
Before you shop for a home, you'll be steps ahead, especially in today's real estate market, by getting pre-approved for your mortgage. You will have more negotiating power when you shop as a pre-approved buyer. |
FLEXIBLE FINANCING SOLUTIONS: We can help with
| Second Mortgage |
Put your home's equity to use |
| Investment Properties |
Buy residential properties to build your investment portfolio. |
| Construction Loans |
2-step construction financing. Contractor built and Owner/Builders welcome! |
| Remodel / Rehab |
Add-on or update the home you have. |
| Refinance |
Reduce your rate or loan term. |
LET'S GET STARTED
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To begin the loan process, you will find documents linked below that you may print now, complete at home, and bring along with you when you meet with our lending specialist. We will need this information in order to process your loan application in a timely manner.
Loan Documentation Checklist - this is the list of documents you will need to provide so that we may proceed with your loan application. Please print the checklist (Word document) and bring the documents to your first meeting with your loan officer.
For your convenience, you'll also find a link to our Uniform loan application (in pdf format). For best results, choose the option to print on legal paper. Print the loan application, complete the information requested and bring along with your Loan Documentation Checklist.
If you have questions or need more information, please call us toll free at 1-800-562-8761 or call the branch closest to you. |
FORECLOSURE ASSISTANCE:
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During these uncertain economic times there are resources that may be available to borrowers who are unable to afford their mortgage payments and who wish to avoid foreclosure.
The following resources may be available to assist you:
www.freddiemac.com/avoidforeclosure
www.homeownership.wa.gov
Washington State Foreclosure Hotline: 1-877-894-4663
United States Dept. of Housing and Urban Development
1-800-569-4287
For those who wish to discuss options for avoiding foreclosure with the beneficiary, please contact: 1-800-562-8761 Ext. 1146 or 1122. |
HOME MORTGAGE BASICS:
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30-Year Fixed Rate Loan
The 30-year fixed rate loan is a standard in the industry, primarily because it offers borrowers the ease of budgeting for a fixed payment each month.
Advantage: If interest rates rise, your loan is locked securely at the same rate. A great solution for those who prefer a fixed payment amount.
Disadvantage: Statistics say most home owners stay in a house
between six and 10 years. If your home purchase is a stepping stone and you are willing to bet on increasing home values, you may choose another loan type to get smaller payments.
15-Year Fixed Rate Loan
A 15-year fixed rate may be preferred when you wish to accelerate the process of a 30-year loan. You still benefit from a fixed monthly payment, yet you reduce the time it takes to payoff your home loan. 15-year loans may be a great solution for those considering refinancing or for those closer to retirement age.
Adjustable Rate Mortgage (ARM)
You'll find a variety of options with an adjustable rate mortgage, but the biggest consideration is the interest rate may change up or down.
Advantages: The rate on an adjustable rate loan may begin low and most are ruled by caps on how much the interest rate can change.
Disadvantages: If interest rates adjust upward, so does your loan payment.
Call 1-800-562-8761 to speak with a lending specialist at the branch
most convenient for you. |
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