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Mortgage rates hit another record low this month, with 30-year fixed falling to 3.13%* and 15-year fixed hitting 2.58%*. If you’re thinking about buying a home or refinancing your current residence, now is the perfect time to take advantage of the current market and rates. Western Bank is here to make the process easier.
Why Shop Now?
In the wake of the COVID-19 pandemic, many things have changed. If you’re looking for ways to boost your personal cash flow or stash some extra money away for emergencies, one way to do this is by refinancing. With record-low interest rates, you can lower your current monthly mortgage payments, leaving you with more money to budget where you need it most.
Are you thinking about buying a house? With rates lower than they’ve ever been since Freddie Mac began tracking the averages, now is the ideal time to start looking.
The Benefits of a Mortgage from a Local Bank
Whether you’re looking to buy or refinance, a local bank like Western Bank is your best asset. Working with us provides you with several benefits over getting a mortgage from a large bank or online lender.
Personalized Experience
While large banks and online lenders often tout excellent rates, they can’t provide you with the personal touch that comes with working with a local bank. Rather than going through several departments (most of which are likely out of state), you work much more closely with the decision-makers.
At Western Bank, we work directly with you, working to build a personal relationship. At the same time, you get to know who we are, which helps to foster a sense of trust that you can’t get with large banks and online lenders. We can then more effectively tailor a mortgage that meets your unique needs.
Local Knowledge
Large banks and online lenders operate in numerous markets. Many of them work with customers all across the country. As a result, they don’t have the same knowledge about local areas that a local bank does.
Western knows Texas. We have seven branches, located in Abilene, Big Spring, Brownwood, Gruver, Lorraine, and Lubbock. We’re familiar with the local economy and what’s going on because we live here. We’re then able to use this knowledge to approve your mortgage.
Greater Flexibility
Due to the large number of mortgage applications that they process, big banks need to establish extremely strict guidelines. If you fall even slightly out of these guidelines, you’re less likely to be approved.
Just because you don’t meet a big bank’s mortgage requirements, this doesn’t mean you’re not qualified for financing (or refinancing). Being a local bank, Western doesn’t have the same strict guidelines. We have much greater flexibility when it comes to approving mortgage loans, increasing your odds of approval.
Get Started Today
No matter if you’re shopping for a new home or looking to refinance your current mortgage, don’t let the record-low interest rates slip by. At Western Bank, we’re here to help. Call us today or reach out to a Loan Officer to get a quick estimate and see just how much you can save!
*Equal Housing Lender. Some restrictions do apply. Rates will vary. This is not a commitment to lend. For more
information on today’s rates, please contact your Western Bank loan officer.
