1st Security Bank of Washington Home Lending

OUR LOAN PROGRAMS

Conventional Loans - These loans are a good option for borrowers with higher credit scores and stable employment histories. Interest rates are generally some of the lowest available and terms range from 10 to 30 years.

FHA Loans - An FHA loan is partially insured by the Federal Housing Administration, and is a great option for borrowers with limited funds for a down payment or imperfect credit.

VA Loans - VA loans are partially insured by the US Department of Veterans Affairs and are a valuable benefit for military veterans and active servicemen and servicewomen. This program offers easier qualifying guidelines and low down payment options.

Buyer Advantage Program - You could receive up to a 1.00% Buyer Advantage Credit from 1st Security Bank. For example, the Buyer Advantage Credit on financing a $600,000 loan is $6,000, which can be used to reduce the interest rate, pay closing costs, or pay for a rate lock of up to 6 months.

Custom Construction and Major Rehab - When you’re building your dream home, wouldn’t it be nice to only take out one loan that covers both the construction period and your permanent financing? Even better, wouldn’t it be great to lock in your fixed interest rate before construction even starts?

We have just the Construction Loan program for you!

Your fixed interest rate is the same during construction and for the permanent financing. Your rate won’t ever increase!
One loan covers the 9 month construction period and permanent financing for up to 30 years. No need to pay closing costs twice or provide updated financial information at modification.
A float down option to current market rates when the loan is modified at the end of the construction period.
Interest-only payments during the course of construction.
Fannie/Freddie conforming and high balance loan limits allowed.
Loan to Values up to 95% based on the lower of purchase price, cost of acquisition, or appraised value.
Your builder does not need to provide financial or credit information.

Asset Depletion - May be used for eligible loans as the sole source of income, or in addition to other income sources, when borrowers have significant liquid assets to supplement their income over a long term period.

Primary residence or second home
Purchase or rate/term refinance only

Bridge Loans and Standalone Bridge - An alternative to making a contingent offer or when buyers need time to sell their departure residence.

9 month term
Current home does not need to be listed
Fixed rate and Interest-only payments

Amazon RSU Program and Day 1 - Ideal for the day-1 Amazon employee that is paid a salary, bonus and RSU’s. We have a simple calculator that considers their base, bonus average over 2 years and their RSU’s.

RSU two year history not required
Loan-to-value up to 95% to $850,000 or 75% to $1,500,000

Other 1st Security Bank Specialty Programs -

Non-warrantable Condominiums
Recent 1099 income
Delayed Occupancy
Physician Loans - Up to 97% loan-to-value to $850,000

Home Loan Programs

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OUR LOAN PROGRAMS

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