Western Commercial bank offers you choices with our Home Equity Loan.  Our lending experts will help make your assets work for you.  Whether it’s home improvement or consolidating debt, our lending experts will walk you through the process so you can find out if a Home Equity Loan is the right lending solution for you.  

Terms:

LTV not to exceed 80% of appraised value; LTV not to exceed 75% of appraised value over $1.5 million

Appraisal required with an appraisal review option by loan officer on appraisals with property valuations over $1.5 million

Term: 15 year amortization due in five (5) years

CLTA on loans over $100,000

Loan fees plus 3rd party cost.

Pricing Index: Prime+

No prepayment penalties

Secured by personal residence with pre-application disclosure statements

Consumer loans will be to individuals with a WCB business banking relationship.  Creditworthiness will be determined by assessment of character, stability, capacity and collateral.

All applications are to disclose purpose

Verification of employment; 2-years tax returns; credit bureau report (within 90 days) to determine adequate cash flow to service debt, acquire assets and liquidity to meet possible future adversity

FCC (total gross income divided by all fixed monthly obligations exceeding 6 months or more) to be evaluated at a greater than 1.5:1.0 ratio.  Fixed expenses to include housing expense, property taxes, insurance, monthly debt payments; other fixed such as alimony, child support, lease payments, etc.

Consumer loans will be offered to the bank’s business & commercial customers only.

To find out more about Western Commercial Bank’s real estate services, call us at:

(818) 449-7700
Western Commercial Bank
21550 Oxnard St. Suite 100
Woodland Hills, CA 91367

Our banking experts will be ready to answer all of your questions.