With a history of integrity since 1908, The New Washington State Bank is the place to trust with your mortgage.
Fixed Rate Mortgages
The monthly principal and interest payments remain the same throughout the life of loan.
Fixed rate loans are beneficial if you plan to stay in your home 10 years or more, prefer to have a principal and interest payment that doesn’t change or you want your interest rate to remain the same for the life of the loan.
Adjustable Rate Mortgages (ARM)
ARM products are great for borrowers who would like lower payment amounts at the beginning of the loan, who plan to own the home for a short period of time, or want to take advantage of possibly lower interest rates in the future. The trade-off for this product is that after the initial rate period is over, the interest rate is subject to market conditions. It may adjust annually, up or down.
ARM products can be beneficial for those who plan to stay in their home for a shorter period of time, want lower mortgage payments or think that the mortgage rates will decrease in the future.
100% Financing Available Mortgages
No need to save for a down payment. We offer products that allow the borrower to achieve home ownership with a zero-down payment.
This may be beneficial for those who want to start building equity in their own home sooner than saving for a down payment and for those who don’t currently have a down payment saved.
Home Equity Loans and Lines of Credit
Home equity is the difference between what is currently owed on a mortgage and the value of the home. NWSB offers fixed rate home equity loans as well as adjustable rate home equity line of credit (HELOC). Fixed rate home equity loans offer a fixed principal and interest payment over the life of the loan. Our adjustable rate HELOCS offer flexibility in the form of a line of credit secured by your home. It allows you to pay back the principal with no set payment and allows for future advances on the line as principal is paid back on the HELOC.
Home Equity Loans and Lines of Credit are beneficial for those who want to do home improvement, debt consolidation, larger purchases, pay for life expenses (tuition, wedding, etc.) or want to have peace of mind knowing they have access to equity in the event of an emergency.
Construction Loans
Short-term financing that provides you the ability to build your dream home or remodel your existing home while making interest only payments during the construction. Once construction is completed, NWSB will help you choose the correct mortgage product for you.
Land Loans
Used to purchase tracts of land as well as building lot(s). These loans are typically “land only loans” and contain no building or structures on the plot of land.
Land loans are beneficial for those wanting to purchase a building lot that may want to build a home in the future, purchase recreational real estate, purchase farmland, or purchase vacant real estate to hold for investment purposes.
FHA Mortgage Loans
Home buyers may not have perfect credit or a significant down payment. An FHA mortgage offers flexible financing options. Both fixed rates and adjustable rates are available. There are no income restraints for an FHA mortgage. Maximum loan amounts are based on county and set by FHA. FHA mortgages require private mortgage insurance (PMI).
VA Mortgage Loans
Eligible veterans, reservists and active armed services personnel, along with eligible spouses with a valid Certificate of Eligibility (COE) can take advantage of a VA mortgage guaranteed by the Department of Veterans Affairs. 100% VA financing is available for those with sufficient income and suitable credit. Both fixed rate and adjustable rates are available for VA Mortgage Loans. Maximum loan amounts are determined by location. Private Mortgage insurance is not required on VA Mortgage Loans.
USDA Mortgage Loans
Offers borrowers loans up to 100% financing for a home purchase or newly constructed home that meet certain requirements. These requirements include household income guidelines and geographic restrictions based on rural and suburban communities.
Meet the Team
Pam Kimmel
NMLS #8488
502-550-7672
Matt LaHue
NMLS #62655
502-724-6320