Bank of the West Mortgage
|Bank of the West is one of the leading mortgage providers in the United States as it provides mortgage to the customers at low interest rates and easy repayment options. Bank of the West is the first preference of the Americans when it comes to applying for mortgage as it helps customers to apply for a wide variety of mortgages like Fixed Rate, Adjustable Rate, Government mortgages and many more, which makes it easier for them. Customers can easily opt for the loan by providing documents like the present income, monthly expenditure and the type of loan that they want. Bank of the West also offers online services for the mortgage customers.
Different types of mortgages provided by Bank of the West are:
Fixed Rate Mortgages: These types of mortgages are specially made for those who have their own home. By choosing this mortgage plan, the customer can choose from a variety of repayment terms and loan solutions that suit their needs. The bank strengthens its relationship with the customers by providing them with professionally experienced mortgage bankers to provide them with the best advice and for fulfilling their financial needs.
Adjustable Rate Mortgages: This plan is mainly introduced to avoid the fluctuations in the interest rates that arise due to financial shocks or any other uncertain event. The customers should choose this plan as the interest rates are low initially in comparison to fixed rate mortgages, though they might change due to the prevailing market conditions. Calculation of interest rates is done based on the type of loan that customer opts for. A wide range of loan solutions are available that the customers can choose according to their convenience. Professionally experienced Mortgage Bankers are always there to assist customers for home financial planning.
Government Mortgages: This Mortgage has mainly been structured for qualifying borrowers. The reason why a person should choose this type of Mortgage Plan is that the interest rates are high, the loan terms are simple to understand, initial payment amount is low, credit is flexible and professionally mortgage banker’s advice is given to the loan seeker.
Refinancing: The main motive behind introducing this plan is to help the customers pay off their existing mortgage and apply for a new one. This plan thus helps the customer’s money grow. Not only this, a fixed rate of interest, paying off outstanding bills, increasing cash flow into customer’s account makes this plan more attractive.
Jumbo Mortgage Loans: This plan is designed exclusively for those people who have their own home and need a non-confirming loan from the bank. The reason why people should opt for this plan is that it provides loan up to $400000, the rates of interest are also high.
Mobile Mortgage Rates: This Plan helps in keeping people updated about their mortgage interest rates as they can view it on their mobile. It provides absolute security to the customer’s account thereby providing privacy and no extra fees is charged for accessing Mobile Mortgage Rates. Customers only require a GPRS enabled mobile phone. They also need to provide a little information about property type and zip code.
Home Affordable Refinance Program: This Plan is exclusively designed for people who do not have outstanding mortgage payments and are not able to get the benefits of traditional refinancing because of depreciated value of their home. Hence, by choosing this plan, these people become eligible for refinancing their home through the federal government's Home Affordable Refinance Program (HARP). Customers can check the interest rates of all the mortgages by visiting the website of Bank of the West or they can also visit the nearest bank branch to know about the same.
It is advised to the customers, that before they call the customer service at 1 (800) 545-8180, they should fill up the bank’s financial statement form for giving proof of their income like salary slips, statement of the last two banking transactions and also provide an explanation for their financial hardships.
Bank of the West Mortgage Payoff
In order to make mortgage payment, customers are required to login to Western Union Speedpay mortgage payment system which is available at Bank of the West website. For mortgage payoff, customers must be handy with mortgage loan number and the last four digits of social security number to payoff mortgage. In addition to this, customers can also make biweekly payments to pay off mortgage accordingly. Thus, Bank of the West ensures that the mortgage payment of the customer reaches before due date of every month. The bank of the west mortgage payoff phone number is 800-545-8180 which is available from 8:00 AM and 5:00 PM Monday - Friday CST for contacting the payoff department to get resolved with any questions related to their mortgage loan. Customers must know that there is no mortgage payment address as such where they can send their payments. Homeowners must know that, the monthly payments are divided into three separate parts:
The mortgage calculator of Bank of the West enables the mortgagee to calculate the mortgage amount and also assist how to reduce mortgage costs etc. The payment calculator enables the customer to calculate their mortgage amount and also the total amount to be borrowed, after entering details like monthly income, loan payments, loan term, property tax etc. There are various types of calculators which are available on the bank’s website like debt pay off calculator and loan borrow calculator for the convenience of the customers.
- Payment on the principal of the loan amount borrowed
- Payment on the interest
- Payment into an escrow account (Principal-Interest-Taxes-Insurance)
Bank of the West Mortgage Customer Service
Customers can dial the Mortgage Customer Service Phone Number (800)488-BANK (2265) and can speak to the representatives from Monday to Friday between 6 a.m. to midnight.
During Saturdays and Sundays or any other holiday they can call from 7a.m. to midnight to lodge complaints, know about mortgage rates, mortgagee clause and get their query solved. To apply for a new loan, customers can dial (800) 563-1852 and for existing loans the number is (888)915-BEAR (2327).
The mortgage service center can also be contacted for assistance by loging into Bank of the West online banking account and click on the option "message center" then "send a message". In addition to this customers can also speak to Bank of the West mortgage department and seek the help of a local mortgage banker.