Avoiding Common Problems

You serve beyond the scope of a religious institution. We serve you beyond the scope of a bank.

Let our team help you with your project.

As a national leader in religious institution lending, we can provide you with the benefits of our expertise in many areas, including environmental issues, appraisals, title issues and loan disbursement.

Environmental Issues

Industry standards typically require a full Phase 1 environmental study for property taken as collateral for loans.

When purchasing real property, we recommend that you obtain a Phase 1 environmental study BEFORE you close the sale. In these instances, an ounce of prevention is worth a pound of cure.

Title Issues

Bank of the West has developed strong relationships with national title insurance companies that provide our clients with superior service and discounted rates where available.

Should issues arise regarding the chain of title or liens, these experts can help resolve the problems quickly, so that funding deadlines can be met in a timely manner.

Appraisals

As an expert in religious institution lending, Bank of the West rarely requires appraisals.

You should be aware that newly constructed religious institutions can occasionally appraise for as little as 75% of their actual cost. Many banks, particularly those that do not specialize in lending to religious institutions, restrict borrowing capacity based upon a loan-to-value limit. In addition, an appraisal requirement may delay the loan closing and add thousands of dollars to closing costs.

Loan Disbursement

Bank of the West generally allows religious institutions to complete their construction project with minimal Bank supervision. We seldom require on-site draw inspections. Our streamlined processes save our borrowers time and money.