Hi everyone. Just a quick note about myself and what I do here at 1st Natl Bank of Gillette WY. I am a Real Estate lender with about 4 years of experience in different types of Mortgage Lending. I love woking here at 1st Natl Bank because my closings always close as scheduled and there are very few hang ups along the way because we do all of our own underwriting right here. NONE of the underwriting is shipped out of town or even another branch for that matter. All underwriting and processing is done right here on the 3rd floor.
I specialize in USDA Rural Development, FHA, VA, WCDA & Conv loans. I would say that the most up and coming product we offer is USDA Rural Dev loans. This type of loan still offers 100% financing and no mortgage insurance. In fact it is 102% financing. You can go up to 102% of the appraisal value regardless of purchase price. This must include the 2% Guarantee Fee for Rural Dev. There are some income restrictions, but it is not limited to 1st time homebuyers. You cannot currently own a home either.
Our average turn-around time for closings is about 2 to 3 weeks. Our appraisals usually always come in in about 1 to 2 weeks and always a few days before the closing. With the way our department works it is not a big deal if the appraisal comes in the day before closing, because we do not have to ship it anywhere for some out of town underwriter to look at it.
As far as fees and rates go, we are very competitive. We typically have the lowest fees in town. This is another reason for doing business with us. I don't know about you, but I do not like paying an arm and a leg for processing fees.
Please call with any questions regarding your Real Estate Lending needs.