First Western Trust
Rooted in the rich tradition of Western wealth management, First Western Trust is more than a bank; they are a partner in your financial journey. Established to serve the unique needs of high-net-worth individuals, families, and businesses, their ethos is built on a foundation of custom banking, wealth planning, and investment management solutions. With a commitment to understanding each client’s unique story and ambitions, they tailor their solutions to not only meet but exceed your financial aspirations.
Why choose First Western Trust? Their boutique, relationship-driven model means all underwriting is handled in-house—no call centers, no off-site delays—ensuring a seamless, personal experience backed by exceptional service.
Loan Officers
Terms:
1. Available Loan Types and Flexibility
From First Western’s mortgage overview, they offer conventional loans under national limits, with down payments as low as 3% for first-time buyers, and typically 5% for anyone who has owned in the past three years First Western Trust Mortgage. While this is about purchase loans, it suggests flexibility likely extends to refinance as well.
2. General Refinancing Strategy
While specific terms for conventional refi aren’t explicitly detailed on their site, their article on refinancing strategies provides an overview of different product types they may accommodate, such as:
Adjustable‑Rate Mortgages (ARMs), e.g., 7/1 or 3/3 ARM structures First Western Trust Mortgage.
Portfolio loans allowing more creative underwriting (common in wealth-management–oriented institutions like First Western) First Western Trust Mortgage.
Temporary rate buydowns and HELOCs as alternative solutions First Western Trust Mortgage.
3. Simulated Rates & Cost Data (Not Guaranteed)
Using OriginationData’s simulated rate engine (as of September 16, 2024):
30-year Conventional Refi: ~6.25%
15-year Conventional Refi: ~5.86%
Estimated closing costs: ~$5,339 average for a 30-year fixed-rate mortgage Origination Data.
These are modeling estimates—not bank guarantees—but give a ballpark reference for typical terms.
4. Cost Competitiveness
According to MortgageWaldo, First Western Trust Bank typically offers lower refinance interest rates and lower closing costs compared to average lenders—especially for conforming conventional refis:
Rate advantage: ~–0.15%
Closing cost savings: ~–$851
Overall cost‑adjusted rate difference: ~–0.19% for conventional refinance loans
Strengths:
1. Available Loan Types and Flexibility
From First Western’s mortgage overview, they offer conventional loans under national limits, with down payments as low as 3% for first-time buyers, and typically 5% for anyone who has owned in the past three years First Western Trust Mortgage. While this is about purchase loans, it suggests flexibility likely extends to refinance as well.
2. General Refinancing Strategy
While specific terms for conventional refi aren’t explicitly detailed on their site, their article on refinancing strategies provides an overview of different product types they may accommodate, such as:
Adjustable‑Rate Mortgages (ARMs), e.g., 7/1 or 3/3 ARM structures First Western Trust Mortgage.
Portfolio loans allowing more creative underwriting (common in wealth-management–oriented institutions like First Western) First Western Trust Mortgage.
Temporary rate buydowns and HELOCs as alternative solutions First Western Trust Mortgage.