Terms:

Pricing Index:  Prime+
 
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

Minimum draw on line:  $1,000.00
 
Minimum Payment:  Interest Only
 
No prepayment penalty
 
Term of revolving line: up to ten (10) years
 
Principal reductions can be made at any time and account can be left open with a zero balance for future borrowing needs
 
Annual Line Fee:  $50/year
 
Fees and Costs at Closing:  Waived fees except for third party costs
 
ALTA report

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.