“People’s financial lives change with milestones like marriage, promotions, career changes, relocations, retirement and more. The ability to select a financing term that reflects what’s going on in their lives can be a huge benefit.” said Rick Soukoulis
San Jose, CA (PRWEB) June 06, 2013
San Jose mortgage lender Western Bancorp has announced the launch of a new loan program designed to provide more flexibility and money-saving opportunities for California borrowers.
Every family has its own unique financial situation and goals. Yet, most mortgages are available only in 15 and 30 year terms. To help provide borrowers with mortgage financing that fits their lifestyles and financial goals – instead of trying to fit their budgets to traditional mortgage terms – Western Bancorp has introduced the YourTerm mortgage loan program.
The YourTerm mortgage enables home buyers and homeowners to choose a term in one-year increments from 10-30 years. Adjusting the term helps borrowers to maximize their ability to build equity, without taking on payments beyond their budgets.
With mortgage rates still near historic lows, borrowers can potentially pay off loans sooner without increasing monthly payments, and get flexible terms to meet changing financial situations and goals. For example, most families don’t plan to stay in their homes for exactly 15 or 30 years, so the YourTerm mortgage helps them obtain a mortgage that better fits their specific financial goals.
“Traditional 15 and 30-year term loan products are just not a good fit in all cases,” said Western Bancorp CEO Rick Soukoulis. “People’s financial lives change with milestones like marriage, promotions, career changes, relocations, retirement and more. The ability to select a financing term that reflects what’s going on in their lives can be a huge benefit.”
About Western Bancorp
Western Bancorp is a San Jose based mortgage company serving California borrowers for home purchase and refinancing loans. Their experienced leadership team has closed more than 500,000 loans since 1986.
The company offers a large selection of loan products, including Fixed-Rate Mortgages, Adjustable Rate Mortgages (ARM), Home Equity Loans, Mortgage Refinancing, Jumbo loans and more at competitive rates. Western Bancorp began with the goal of creating a better loan source for California borrowers. As a mortgage bank that only lends in California, Western Bancorp understands state and local regulations and how they affect local borrowers.