West Star Mortgage was founded in 1993 and is a direct lender. They specialize in financing and purchasing non-conventional loans. West Star Mortgage has offices in the states of Alaska, Arizona, Nevada, New Mexico, Texas and Oregon. West Star tailors outside the envelope financing solutions to help their clients meet their unique economic needs. They service their over $1 billion in loans with in house underwriting.
West Star also purchases and services notes. Many sellers finance their own loans and then sell them. West Star will purchase real estate contracts or notes and deeds of trust. They also provide note servicing. This means that they will bill the borrower; collecting payments of principal, interest, and payments into an escrow account; disburse funds from the escrow account to pay taxes and insurance premiums; and forward funds to an investor if the loan has been sold in the secondary market (all for a fee).
Loans offered by West Star Mortgage
West Star’s home loan division is located in Albuquerque, New Mexico. Kent Wiechert is the President and Katy Wiechert is the Vice President of West Star Mortgage. They have a professional team of five loan consultants and one underwriter. The potential borrower is welcome at their office any time. They answer e-mail requests in a timely manner and of course the may be contacted by phone. West Star Mortgage Corporation funds many types of loans. Their main loan categories are listed below:
- Conventional Loans
- Conforming Loans
- Non Conforming Loans
- Government Loans
- Commercial Loans
- 30 and 15 Year Fixed Rate Loans
- Adjustable Rate Loans
- Refinance Loans
- First Time Buyers Programs
- 0% Down Payment Options
- Manufactured Home Financing
The categories above are broad examples of the types of loans funded by West Star Mortgage. They work with their clients to adapt the loan to their clients specific needs. Creative financing options are available for West Star customers. The loan process is explained in detail on the West Star website and their experienced loan officers are happy to guide the customer through the process. The procedure may take place entirely online if the client so desires.
The West Star website is easy to navigate and includes the requisite mortgage calculators and glossary. An explanation of the credit score and how it affects the price of a loan is also included. The online application is extensive, but includes over 80 help files! If the customer needs to quit the application process and come back later the data will be saved. When finished, the application can be printed out , signed and mailed to West Star Mortgage’s office for immediate approval. An authorization form needs to be printed and signed as well, so West Star may request release of information from employers, banks, etc. The loan process is then underway. West Star wants their clients to make an informed loan decision and strives to keep them up to date throughout the whole loan process.
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