Purchase Money Second

When you're buying a home, a little assistance with the down payment can make a big difference. A Purchase Money Second (PM2) can help you secure the down payment you need to buy the home that's right for you.

Purchase Money Second Loan or Line of Credit:**

  • No origination fees or closing costs (applicable only to PM2 and not Bank of the West 1st Mortgage)
  • Loan amounts up to $500,000 and line amounts up to $2,000,000
  • Helps meet Loan-to-Value requirements
  • Available in a variety of terms
  • Fixed and variable rate options
  • Supplements your out-of-pocket costs
  • Published rates include a 0.25% discount for automatic payment from a Bank of the West checking account

Check the latest Home Equity Rates and Important Disclosures

To apply you'll need:

  • Asset information
  • Employment and income history - at least 2 years
  • Debt information
  • Social Security and Taxpayer ID Number (TIN)

Check the latest Home Equity Rates and Important Disclosures

Subject to credit approval. Certain restrictions may apply.

**PM2s must be closed concurrently with a Bank of the West 1st Mortgage.

Access your Line of Credit

Four Easy Ways to Access your Line of Credit

  • 1. Write a Convenience Check
  • 2. Transfer funds through Bank of the West Online Banking
  • 3. Contact your local banker
  • 4. Or, call us at (800) 827-7500

Check Rates

View current Home Equity Rates and important credit disclosures to make an informed decision.