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Your Path to Home Ownership.
Learn More About the Timberline Bank Mortgage
A Mortgage That Adapts to Your Needs
Timberline Bank offers a mortgage solution designed to provide both stability and flexibility. Our 30-year amortized loan with a seven-year fixed rate allows you to plan for the future while keeping payments manageable. This loan features predictable payments during the fixed-rate period, no prepayment penalties, and an opportunity to adjust as market conditions change. Loan terms, conditions, and credit approval apply.
Making Home Financing Simple
Stable & Flexible Loan Terms
- 7/1 Adjustable Rate: Enjoy a fixed interest for the first 7 years followed by annual adjustments based on market conditions. Rate adjustments are subject to loan terms and market index fluctuations.
** For example, on a $250,000 loan with a 7/1 ARM at an initial 5.50% interest rate (5.75% APR), the monthly principal and interest payment would be $1,419.47 for the first seven years. After that, the rate and payment may adjust annually. - 10-Year Term, 30-Year Amortization: Benefit from lower monthly payments by spreading repayments over a 30-year amortization schedule, with a 10-year loan term. Loan terms and conditions apply.
** For example, on a $250,000 loan with a 10-year term and a 30-year amortization at a 6.00% interest rate (6.25% APR), the monthly principal and interest payment would be approximately $1,498.88, with a balloon payment due at the end of the term.
Convenient Payments
- Includes Principal, Interest, Taxes & Insurance (PITI): Your monthly payment includes principal, interest, property taxes, and insurance, helping to simplify budgeting.
** For example, on a $300,000 loan with a 30-year fixed rate of 6.00% (6.25% APR), the estimated monthly payment including PITI would be approximately $2,250. Actual payment amounts may vary based on escrow adjustments, property taxes, and insurance costs. - Up to 80% Loan-to-Value (LTV): Eligible borrowers may qualify for financing up to 80% of the appraised home value.
** For example, if your home is valued at $400,000, you may qualify for a loan of up to $320,000. Loan terms, conditions, and credit approval apply. - No Prepayment Penalty: You can make additional payments or pay off your loan early without incurring a prepayment penalty.
** For example, if you take out a $250,000 loan and choose to pay an extra $200 per month toward the principal, you could reduce your loan term and total interest paid without penalty. Certain restrictions may apply; contact us for details.
Eligibility & Requirements
- Minimum 660 Credit Score: Loan eligibility requires a minimum credit score of 660. Other credit and underwriting criteria apply.
** For example, a borrower with a 660-credit score may qualify for a $250,000 loan at a 6.50% interest rate (6.75% APR), subject to credit approval and other financial factors. - Maximum 43% Debt-to-Income Ratio: Borrowers must have a DTI ratio of 43% or lower to help ensure affordability. Additional factors may be considered in the credit approval process.
** For example, if a borrower's monthly gross income is $6,000, their total monthly debt payments—including the new mortgage—must not exceed $2,580 to meet the 43% DTI requirement. - Escrow & Auto Payments Required: An escrow account is required for property taxes and insurance, which will be included in your monthly payment. Automatic payments are also required to help ensure timely payments.
** For example, if a borrower's estimated property taxes and homeowners’ insurance total $3,600 per year, an additional $300 per month would be included in their mortgage payment to cover these expenses through escrow. Terms and conditions apply.
Start Building Your Future.
Why Timberline Bank?
Community Focus
When you bank with us, you are giving back to your local community. Your deposits stay local, helping to support economic growth on the Western Slope.
2024 Top Regional Bank
in the Nation
in the Nation
Timberline Bank was recognized as one of the top 250 regional banks in the United States by Newsweek two years in a row.
Excellent Customer Service
We go above and beyond in every aspect of customer service—when you call us, you’ll talk to a real, local person who’s ready to help.
Your Community Bank
Timberline Bank is proud to give back through sponsorships, volunteering, and programs that strengthen our local economy. Together, we’re building a brighter future.
Let's Make Life Easier
Moving your accounts to Timberline Bank has never been easier.