Waterman Mortgage

Your Home

More Loan Options

With more loan programs than your average bank, we have the right option for you. Whether you’re a first-time home buyer, investor, or outgrowing your home, we’ll make sure to find the best product to suit your needs.

Competitive Rates

Let our bank act like a broker for you, you get the best of both worlds, a competitive rate, and the knowledge of an experienced mortgage banker to help guide to the best financial decision.

A Calming Experience

Easy to use digital tools and live person ready to answer your questions will make your mortgage process a smooth experience. Our mortgage team is here to help you every step of the way.

Purchase

Buying a Home

Get Preapproved

Ready to start your search? A Waterman Bank mortgage professional is here to guide you step by step through the pre-approval process.

Apply Now

Found a home or want to make an offer? Apply now in minutes to get your journey started with Waterman Bank.

Waterman Mortgage

Refinance

There are many reasons to refinance your mortgage, contact us to see if refinancing is right for you.

  • Lower your rate
  • Access your home’s cash
  • Pay off your home faster
  • Make your payment predictable

Refinance your Mortgage

Refinance

There are many reasons to refinance your mortgage, contact us to see if refinancing is right for you.

  • Lower your rate
  • Access your home’s cash
  • Pay off your home faster
  • Make your payment predictable

HELOC

Home Equity Line of Credit

Access the value of your home without refinancing your entire mortgage.

  • Pay off Debt 
  • Pay for Emergency Expenses
  • Finance Home Improvements

Home Equity/HELOC

Home Equity Fixed/Line of Credit

We have fixed rates and variable line of credit options. Access the value of your home without refinancing your entire mortgage.

  • Pay off Debt 
  • Pay for Emergency Expenses
  • Finance Home Improvements

Find the perfect mortgage banker for you.

View all of our mortgage Bankers.

Types of Loans

A fixed rate mortgage is designed to lock in your interest rate for the entire duration of the loan's term. Common fixed rate terms are 30-year, 20-year, or 15 year. Although US mortgage rates will increase or decrease over the years, you'll still pay the same interest rate as you did on your first mortgage payment.​

An adjustable-rate mortgage (ARM) is loan program that is split into two parts. The rate is fixed in the beginning of the loan (typically 5-, 7- or 10-year options) and variable for the rest of the loan, adjusting each year (typically once each year or every 6 months). This can be a great option for homeowners because it can offer an introductory fixed rate that's lower than a typical fixed rate mortgage before the variable rate period kicks in.

An example would be a 5/1 ARM or 5/6 ARM, the first number "5" would stand for the length of the initial fixed rate period of the loan (5 years of a fixed interest rate) while the second number "1" or "6" would stand for how often the loan will adjust after the fixed rate period is over. "1" for once every year or "6" for every 6 months.

If you can dream it you can finance it. A renovation loan allows you to purchase or refinance a home and pay for future renovations or repairs by wrapping the all those cost into one loan. What makes a renovation loan extra special is that the loan is based on the properties after repair value, that way the buyer can finance the home improvements rather than having to come out of pocket for those costs.​

Interest only product with no prepayment penalty, can be used for a plethora of circumstances to “bridge” a gap in time for borrowers to be able to complete transactions in a timely manner. This product is structured to be refinanced into a normal rate and term mortgage as soon as the borrower’s situation is ready/capable of doing so in accordance with conventional lenders

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. For this reason FHA loans lower minimum requirements relating to credit scores, down payments and debt to income limits, making it an attractive option of first time homebuyers.​

A VA loan is a mortgage loan backed by the U.S. Department of Veterans Affairs for service members, veterans, and their surviving spouses. They offer several advantages traditional loans, including lower interest rates, more lenient borrowing requirements and no down payment due at closing. VA loans also never have monthly mortgage insurance.​

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $647,200 in most counties, as determined by the Federal Housing Finance Agency (FHFA). Homes that exceed the local conforming loan limit require a jumbo loan.​

Does your application not fit the box? Whether its 4+ units or unique income situations, we have an array of products to help you close your loan.​

Types of Loans

Fixed Rate Mortgage

A fixed rate mortgage is designed to lock in your interest rate for the entire duration of the loan's term. Common fixed rate terms are 30-year, 20-year, or 15 year. Although US mortgage rates will increase or decrease over the years, you'll still pay the same interest rate as you did on your first mortgage payment.

Adjustable Rate Mortgage

An adjustable-rate mortgage (ARM) is loan program that is split into two parts. The rate is fixed in the beginning of the loan (typically 5-, 7- or 10-year options) and variable for the rest of the loan, adjusting each year (typically once each year or every 6 months). This can be a great option for homeowners because it can offer an introductory fixed rate that's lower than a typical fixed rate mortgage before the variable rate period kicks in.

Renovation Loan

If you can dream it you can finance it. A renovation loan allows you to purchase or refinance a home and pay for future renovations or repairs by wrapping the all those cost into one loan. What makes a renovation loan extra special is that the loan is based on the properties after repair value, that way the buyer can finance the home improvements rather than having to come out of pocket for those costs.

Bridge Loan

Interest only product with no prepayment penalty, can be used for a plethora of circumstances to “bridge” a gap in time for borrowers to be able to complete transactions in a timely manner. This product is structured to be refinanced into a normal rate and term mortgage as soon as the borrower’s situation is ready/capable of doing so in accordance with conventional lenders

FHA Loan

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. For this reason FHA loans lower minimum requirements relating to credit scores, down payments and debt to income limits, making it an attractive option of first time homebuyers.

VA Loan

A VA loan is a mortgage loan backed by the U.S. Department of Veterans Affairs for service members, veterans, and their surviving spouses. They offer several advantages traditional loans, including lower interest rates, more lenient borrowing requirements and no down payment due at closing. VA loans also never have monthly mortgage insurance.

Specialty Loans

Does your application not fit the box? Whether its 4+ units or unique income situations, we have an array of products to help you close your loan.

Jumbo Loan

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $647,200 in most counties, as determined by the Federal Housing Finance Agency (FHFA). Homes that exceed the local conforming loan limit require a jumbo loan.

Learn more about our loan options here.

Mortgage Calculator

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Mortgage Calculator

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Across the entire U.S.

All 50 States

A Nationwide Leader

No matter where you live or are looking to move to, we can help you with financing your home.

Still have questions?

Waterman Bank mortgage bankers are here to help you.
Schedule a free consultation or call us today to start your journey.

Call us at 312-212-6050

Waterman Bank is here to help.

At Waterman we believe in serving all the people in our communities, understanding your needs and finding the right solutions to meet them. Whether your goals are big or small we are only a phone call or email away, we’re here to help.