Real Estate Services
Mortgage Loan Checklist
To help make your real estate loan process go swiftly, please
bring the following documents to your initial appointment.
You may be asked to provide additional documentation
throughout this process.
WESTconsin Title Services is a full service title agency
established on the premise of exceptional customer
service. Our professional closing specialists will
work with you to ensure the smooth and on-time
completion of your order.
Providing the following services:
•
Title Insurance
•
Title Reports
•
Closing Services
•
Construction Disbursements
•
Escrows
VERIFICATION OF INCOME
Two most recent pay stubs
If self-employed, two years of tax returns
If applicable, proof of social security,
disability, pension, or other income
Divorce decree, if you are receiving or paying
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maintenance or child support
VERIFICATION OF PROPERTY VALUE
Most recent property tax statement
VERIFICATION OF FINANCIAL ACCOUNTS
Two most recent statements on all financial
asset accounts including bank, investment,
and retirement accounts
HOMEOWNERS INSURANCE
Whether buying or selling, WESTconsin Realty’s
agents have years of experience and expertise. They
are committed to helping you achieve your goals. You
will receive the top-quality service you deserve.
•
Buyers receive cash back at closing when
working with a WESTconsin Realty agent
•
Sellers receive a 4.8% residential commission
rate on qualifying properties
•
Licensed in Wisconsin and Minnesota
•
Experienced full time professionals
•
No administration fees
Company and agency name
If refinancing, insurance declaration page
IF THIS IS A HOME PURCHASE,
Signed offer to purchase
Property condition report
Proof of source of down payment
westconsincu.org
Federally insured by NCUA
10/2012
Mortgage Loans
A guide to real estate services.
Let WESTconsin welcome you home!
Available Loans
Other Financing Options
Congra
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decision to invest
in new property, refinance, or remodel, you should
be aware of the loan options available to you. At
WESTconsin Credit Union, we provide fast, thorough
service and are approved lenders in Wisconsin and
Minnesota. We offer a variety of lending programs
and our loan originators will work closely with you, to
ensure the loan you select works best with your budget.
Fixed Rate Mortgage Loans
Vacant Land Loans
Choosing a fixed rate mortgage loan is often the
route to go when you are entering into a long-term
commitment with a property. This means that you
have more time to pay off your loan. You can choose a
longer-term loan and have a smaller monthly payment.
Or you might prefer a short-term loan and make larger
payments, which means you pay less overall interest.
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Construction/Home Improvement Loans
Because we are a member-owned financial
cooperative, our cost of doing business is lower
than most financial institutions—a savings we pass
on to you through lower fees and very competitive
interest rates. WESTconsin does not sell its servicing,
so you can always make your payment at the nearest
WESTconsin office.
Fixed Rate Mortgage Loans Offer:
Apply In-Person or Online
To schedule an appointment with one of our helpful
loan originators, call your local WESTconsin office
or (800) 924-0022. Or complete your mortgage loan
application online at westconsincu.org.
Payment Options
WESTconsin Credit Union offers flexible payment
options. Automatic payments can be made directly
from your savings or checking account.
Making additional payments is a great way to reduce
your balance faster and pay less interest. Plus, you
won’t pay a penalty for paying your loan early!
Contact Us
Even if you are still undecided about making a real
estate purchase, or if you would like to set some goals
for future plans, stop in and let us help you lay the
groundwork to make your dream a reality.
•
Choice of term to fit your budget
•
Monthly payments that never change
•
Interest rates locked in for the term of your loan
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•
Interest paid on escrow
•
Choice of 10, 15, 20 and 30 year terms
(based on principal and interest; escrows may flucuate)
WESTconsin Credit Union membership means you
have access to some of the lowest rates and closing
costs in the area. Membership Value Pricing® (MVP)
status provides even further discounts on closing
costs—$100 off for Gold MVP members and $50 off for
Silver. Preview our rates and payment options online.
Maximum 30 year amortization
3 or 5 year ARM rates
We realize the importance of your time, especially
when you are dealing with builders and contractors
during construction.
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WESTconsin
offers options
op
that keep
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budget in line and your
construction schedule on
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time. Whether
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it’s a new
construction or remodeling
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for additional
add
living space—
WESTconsin
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will work with
you to get a loan with low
interest rates you can
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live with.
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Adjustable Rate Mortgages (ARMs)
First Time Homebuyers
ARM loans offer lower interest rates during the first
years of your loan. There are several loan options to
choose from. WESTconsin loan originators will help
you determine which will work best for you.
WESTconsin offers various programs, such as FHA, Rural
Development and WHEDA loans, for first time home
buyers with little or no down payment requirements.
These programs assist low- and moderate-income
individuals and families to buy a home.
ARM Loans Include:
•
Lower initial rate, allowing you the opportunity
to buy more house right away
(3 year fixed rate, rate adjusts annually thereafter)
5/1 Year ARM
VA Loans
Interest paid on escrow
•
Commonly offered options:
•
•
Home Equity Line of Credit (HELOC)
You can get a pre-approved loan that you use as
needed. You only pay interest on the portion used,
and the interest may be tax deductible. The money
can be used for any worthwhile purpose, not just
home improvements—purchase vehicles, take a
vacation or consolidate bills.
•
3/1 Year ARM
(5 year fixed rate, rate adjusts annually thereafter)
•
Rates and Discounts
•
•
7/1 Year
ar ARM
(7 year fixed rate,
djusts
rate adjusts
lly
annually
fter)
thereafter)
A VA m
mortgage loan is provided by a mortgage
lender, guaranteed by the U.S. Department of
lender
Veterans Affairs for eligible veterans and reservists.
Vetera
Qualified borrowers may borrow for the full value of
the home
ho
with no down payment. Because there is
no down
dow payment required, rates on VA loans tend
to be higher
h
than conventional mortgages made
with a down payment. While the veteran will pay
closing costs, these costs are held to reasonable and
customary amounts by regulation.
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