Mortgage Loans

West Michigan Community Bank offers a complete selection of mortgage loan products designed to meet your needs. We understand that relationships matter and we are here to help you determine the option that works best for you.

Fixed Rate Mortgages

Fixed monthly principal and interest payments that remain the same for the term of the loan.  This loan option is attractive to borrowers who may remain in their home for several years.  Multiple terms are available.

Adjustable-Rate Mortgages (ARMs)

The initial mortgage interest rate may be lower than current fixed-rate loans.  These loans offer an initial fixed rate period and then adjust annually.  Choose from a number of adjustable-rate loan products.  Borrowers who intend to remain in a property for a shorter period of time may prefer this option.

Conventional Mortgages

The most common type of mortgage, typically provided by the agencies known as Fannie Mae (FNMA) and Freddie Mac (FHLMC). The maximum loan amount is currently $417,000 and usually requires standard documentation for income and assets. 

Jumbo Loan

An option for consumers who wish to borrow more than the conforming loan limit of $417,000.

Construction Permanent Loan

We keep the financing of your construction project simple by offering a one-time closing, combined construction and permanent loan.  We approve your permanent loan at the same time we approve your construction loan, so there's only one set of closing costs, saving you time and money.

Lot Loans

These loans are intended to provide funds to purchase a residential lot for building a new primary or secondary home.

Government Mortgages

Mortgages insured by government agencies, such as Federal Housing Administration (FHA), VA, and Rural Development (RD) loans.

Portfolio Mortgages

This product is designed for non-conforming circumstances, or properties with non-traditional characteristics or unique financial situations.

 

 

For more specific rate information, or to speak with a retail / mortgage lender, contact WMCB or the Retail / Mortgage Lending Team today!

All loans are subject to approval.

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