Bank of the West Mortgage Review(s) and Interest Rates

March 2, 2011 No Comments »

Bank of the West, a subsidiary of BNP Paribas, is a 135 year old institution and one of the largest and well-rated banks in the country. They have 658 offices and/or branches nationwide and control over $30 million in consumer deposits. BancWest, the holding company for Bank of the West, controls over $76 billion in assets and services more than 4 million households and business accounts.

As for home loans and/or refinancing, Bank of the West has a full suite of mortgage products available to consumers in a number of states throughout the country. Their mortgage product line includes: fixed rate mortgages, adjustable rate mortgages, government mortgage programs, and a number of refinance options. Their mortgage rates very slightly by state. To see your individual qualifying APR you’ll need to fill out a brief form on their website (BankoftheWest.com).

Mortgage Rates offered through Bank of the West:

(Rates accurate as of March 2011 and assume a $250,000 loan in California on a $300,000 property value)

- 30 year fixed rate mortgage has an APR of 5.198% with 0 points and closing fees of $7431.95.

- 15 year fixed rate mortgage has an APR of 4.417% with 0 points and closing fees of $7119.45.

- 3 year ARM has an APR of 3.480% with 0.375 points and closing fees of $9619.45.

- 5 year ARM has an APR of 3.580% with 0.125 points and closing fees of $8994.45.

- 7 year ARM has an APR of 3.891% with 0 points and closing fees of $8369.45.

Some things to consider before applying for a Bank of the West mortgage or home loan:

- The mortgage (APRs) and discount points we’ve shown above are subject to change without notice and assume Bank Relationship Pricing from Bank of the West. Bank Relationship Pricing requires applicants to maintain a Bank of the West personal checking account with a debit card and automatic electronic mortgage payments.

- Your APR will vary based on your final loan amount and finance charges.

- All investment property mortgage loans are subject to close with an interest rate with at least .50 points. Your interest rate may be adjusted to satisfy this requirement. You’ll want to contact a Bank of the West mortgage banker for any additional information about their interest rate lock policies and procedures.

- All APRs shown above assume a credit score of at least 740. The actual interest rates and fees available to you will be based on your credit history and may be different than the rates displayed above.

- Jumbo loan pricing is based on a credit score of at least 740, and a Loan-to-Value of 60% to 70%. Should your actual credit score and/or Loan-to-Value differ from this range your interest rate may be subject to change.

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