Home Loans
Mortgages Made Easy
Buying a home? Refinancing? We are here to make it easy, with the experience to help you feel comfortable and confident!
Why Choose Us
Professional Guidance
Everyone offers a wide range of loan products with a wide range of customization options. Without the right lender, or simply using an online system, you may be offered a loan based solely on numbers, versus our experienced lenders who will have a conversation with you and identify the true unique identifiers of your situation and help connect you with your best loan option.
One-Stop Shop with Easy Digital Tools
We can show you a variety of great loan options with one application! Our application process is very smooth. We can offer you a pre-qualification letter, and you can submit everything through our BOW Mortgage app. You will also get notifications throughout the process so you know exactly what steps have been completed and what steps are next.
We're Here even After the Loan
For us, it's all about the relationship, and if you have a question about one of the largest purchases you will ever make, being able to talk with us, versus calling an automated 800 number, really means something! We service our loans, which means you will be making your payments locally, and talking with local people when you have questions.
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Sherry Wahle
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Brad Mitchell
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Phillip KleekampVice PresidentRetail Lendingpkleekamp@bankofwashington.comNMLS 2124193 |
Brenden BrinkerRetail Lender Mortgage& Consumer Lendingbbrinker@bankofwashington.comNMLS 1968832 |
Different Types of Mortgage Loans
Click each loan type to expand for more information.
Conventional Fixed-Rate Loan
- Traditional, fixed-rate mortgage, no interest rate surprises
- Flexible down payment and term options - financing terms available up to 97% financing (only 3% down payment)
- With a 20% down payment, private mortgage insurance is not needed
- No property use or location restrictions
USDA Loan
- 100% financing (0% down payment) for qualified buyers and qualified properties
- Household income limits and geographic location requirements must be met
- Can only be used for a primary residence
Adjustable Rate Mortgage (ARM)
- Initial fixed period where you pay a fixed interest rate, followed by an adjustable period where the interest rate fluctuates
- Interest rate could increase or decrease once the initial fixed period rate expires
- Down payment requirements fluctuate based on the individual buyer and property
- What you should know about ARM Loans
- Right to receive a copy of Appraisal Report
- 5/1 ARM Disclosure
- 3/3 ARM Disclosure
- 1/1 ARM Disclosure
FHA Loan
- More lenient credit score guidelines
- Low down payment requirements
- Private mortgage insurance is required
- Can only be used for a primary residence
VA Loan
- More lenient credit score guidelines
- 100% financing (0% down payment) for qualified buyers.
- No mortgage insurance required and no loan limits
- Can only be used for a primary residence by VA qualified borrower
Other Home Loan Options
Click each loan type to expand for more information.
New Construction
- Short-term, interim loan
- Designed for borrowers building a new home
- Construction-to-permanent loan options, meaning the loan can transfer into a permanent loan type after construction
Land / Lot Loan
- Purchase the land now and make the decision to build later
- Choose from 1-3 year fixed-rate loans with flexible terms up to 20 years
- Land-to-construction-to-permanent loan options, meaning the loan can transfer into a permanent loan type after construction
Home Equity Line of Credit (HELOC)
- Use the equity in your home to consolidate bills, buy a new car, pay for tuition or remodeling projects