> Portfolio Loans

Sometimes the square peg does not fit in a round hole. For that reason, Pacific Crest Savings Bank has portfolio loan programs for borrowers who don't fit the exact qualification requirements of conventional or jumbo loan programs. Portfolio loans allow us to make loans for unique situations that most lenders will not accept.

First mortgage options range from 6-month adjustables to loans with a fixed rate for a three or five year period that then become adjustable on a yearly basis. Adjustables are based on the prime interest rate, which is the rate that banks charge their very best customers.

Bridge loans are made against your current home to allow you to close on a new purchase before your current home sells. The bridge loan is a temporary loan for six months that is secured against the current home for sale. The proceeds from the loan are used for the down payment and closing costs on the new home. Once this home sells, the bridge loan is then paid off using the proceeds of the home equity from the sale.

Portfolio loan details:

• Single family, land, multi-family, and small commercial properties
• Purchases, refinances, and bridge loans
• 6 month adjustable rates, with 30 year amortization; 3 and 5 year adjustable rates, with 30 year amortization (3 and 5 year also available with interest only)
• Unique Vesting -- LLCs, Ltd Partnerships, and Corporations
• Washington State properties only