Looking for a home loan or planning an addition to your home, renovations or to consolidate debt? WinFirst Bank is dedicated to providing the loan services that our customers need. WinFirst Bank NMLS ID #451457.
Mortgage loans come in all shapes and sizes. WFB takes the confusion out of the equation. We offer both in-house and secondary market products to assist you in purchasing the home of your dreams.
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If you are looking for the lowest rates, fixed for the longest term, this is the product for you. Call one of our associates for rates, terms and details.
WinFirst Bank can assist you in refinancing your existing home loan. Is your rate too high? Is your interest rate not fixed? There are many situations where home loan refinancing can be a benefit to you: saving thousands, consolidating debt, or tapping into your home equity. Refinancing could be the solution for you.
Another reason to refinance your home loan is to take cash out. Taking cash out means receiving a one-time cash payment during refinancing.
Our team strives to make the process of refinancing smooth in order to help you. Regardless of your reasons, we can help you go over your choices, assisting you in selecting the right option for you.
Have you found the home you want to buy now, but haven’t sold your existing home? You may need a bridge loan. A bridge loan is basically a short term loan taken out by a borrower against their current property to finance the purchase of a new property. A bridge loan is typically good for a six month period, but can extend up to 12 months. Bridge loans are generally taken out when a borrower is looking to upgrade to a bigger home, and haven’t yet sold their current home.
A bridge loan essentially “bridges the gap” between the time the old property is sold and the new property is purchased.
A bridge loan can be structured so it completely pays off the existing liens on the current property, or as a second loan on top of the existing liens. In the first case, the bridge loan pays off all existing liens, and uses the excess as down payment for the new home. In the latter example, the bridge loan is opened as a second or third mortgage, and is used solely as the down payment for the new property.
Depending on the equity in your present home, WinFirst Bank may lend you 100% of the cost of your new home. When your old home sells, you pay down principal and reduce your monthly payment or change the structure. Enjoy your new home now before someone else purchases it.
WinFirst Bank offers you options to use the equity in your home. With one simple application you can have a line of credit with the flexibility to meet any need. A home equity line of credit is a variable rate line of credit that uses your primary residence as collateral for the debt. The amount you may be able to borrow is the difference between any debts secured by your home (like your current mortgage balance) and your home’s market value.
A home equity loan is a great way to pay for a college tuition. Perhaps you want to make improvements to your home. Your home could easily increase in value, as a result of your home improvements. A home equity loan can enable you to buy a new vehicle. Perhaps you want to take a vacation of a lifetime. You can take that dream vacation that you’ve always wanted to take, but that has been out of reach because of cost. Your home equity loan could help you with your business, too. If you want to consolidate high interest credit card or other bills, a WinFirst Bank home equity loan can do that for you, too.
At WinFirst Bank you’ll have the ability to set the term of the loan. If you want lower payments, you can extend the length of the loan. You can obtain lower interest rates with a home equity loan than you can with credit cards or personal loans. Because your home is the collateral for the loan, a home equity loan is easier to get than other loan types.
Thinking about building a new home or remodeling your existing home? We offer options to ease the process, combining the construction and permanent financing of your project. You qualify for the loan once, lock in the permanent rate, sign one set of loan documents and have a pre-determined amount of time to complete your residential construction project. Save time and money with one closing, one set of closing costs and one construction loan.
Building a new home or purchasing a home under construction is a big commitment requiring time and money. Fortunately, WinFirst Bank offers great solutions for construction loans to help you save both. The primary benefit of the construction loan is that it enables you to build your own house or remodel your home through your builder of choice. In addition, because you only have to make the interest-only monthly payments during the construction phase you can afford to hold on to your current home while your new home is completed. If you want to construct a building for business use or for rental purposes, you can also apply for a construction loan.
Construction Permanent Loans are available with fixed-rate or adjustable-rate mortgages. During the construction period, interest is charged only on the funds that have been disbursed. When the project is completed, the permanent loan period begins.
The construction loan and permanent loan terms are determined at the beginning of the process. Sums of money will be disbursed from the loan principal periodically to the builder until completion of the project. During the construction phase, you will make monthly interest payments based only on the outstanding balance in any given month. Upon completion of the home, the loan will roll over into the permanent financing, and you will make monthly payments in accordance with the terms of the note. The biggest advantage of a one-time close is the ability to lock in the interest rate and term of the permanent loan.
Ask us at WinFirst Bank how we can make the process easier for you.
We offer non-real estate loans for all of your other lending needs. Vehicle loans are available for automobiles up to 7 years old. We also offer financing on watercraft and equipment. An unsecured loan may be an option for all of your other lending needs. Please see your personal banker today for details!