Information
About lender
Weststar is a licensed mortgage lender that issues ordinary loans, VA and FHA loans. After joining Goldwater Bank, N.A. Weststar Mortgage Corporation expanded its offer of pre-national level services. Weststar Mortgage offers various loan programs for refinancing and purchases. The company's website contains a full range of services that they have developed to meet all customer needs.
This mortgage lender appeared in 1983 in Albuquerque, New Mexico. The headquarters of the company is also located there, and it operates in 40 states. The development of specialized software for servicing loans to customers is the main goal of Weststar Mortgage Corporation. They cooperate with equal housing lenders.
Pros and cons
Before choosing Weststar as your mortgage lender, compare the offers and learn all advantages and disadvantages of the company.
Pros
- The company helps customers to leave their home while retaining the right of redemption.
- You have access to your account information online 24 hours.
- There is an option to manage loan delinquencies.
- The company sends payment receipts to all parties by e-mail after each payment is made.
- Weststar sends a notification to the borrower only after 15 days of delay.
Cons
- If you don’t pay your fees, you will lose the rights to the property.
- There is very little information on the company's website. You can find out any details only after passing the preliminary qualification.
- Difficult access causes inconvenience. Weststar Mortgage Corporation users must enter a special identification code to open some company's websites.
- Weststar has monthly service fees, prepayment fee, balloon fee, reconveyance fee, demand monitor fee and many others.
Terms and conditions
The innovative line of Weststar Mortgage includes the following types of real estate financing:
- One-time loans for the construction of FHA and FNMA
- FHA 203 (k) streamlines and full purchase as well as refinancing
- Financial support for construction and modular housing
- FHA, USDA and VA with minimal overlap on AU results
- Overdue loans with income documentation
- Giant loan programs
- Bond programs
- Reverse mortgage.
The company has a prepayment fee and balloon penalty in some cases which are specified in your contract.They may also have a reconveyance fee, demand monitor fee and many others.
Funding a loan
Weststar Mortgage requires you to provide your bank account. The company transfers the money to the borrower's bank account as soon as both parties have completed all the necessary documents.
The time the finding is available to you depends on your bank’s processing speed. If you request money right before holidays, you will have to wait longer.
