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Bank of the West offers all the standard conforming and government-backed loans you’d expect from a regional bank. But the lack of qualification information on its website makes it difficult to research if this bank is right for you.
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, HELOC, Refinance |
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Minimum credit score | 620 |
Minimum down payment (Conventional) | 3% |
State availability | AZ, CA, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, UT, WA, WI, WY |
NMLS # | 19116 |
For conventional loans, this lender doesn’t disclose its credit score requirements — or other requirements such as loan-to-value (LTV) or debt-to-income (DTI) limits — on its website, forcing you to apply to find out if you qualify.
You can get prequalified, which provides a letter of how much of a loan you can afford based on your credit score. But this letter doesn’t indicate that you’ll be approved for a loan and is mostly informational.
Preapproval is a longer process that includes both your credit score and an analysis of your income, and can help boost your offer more than a prequalification can. While it’s still no guarantee, a preapproval indicates how much of a loan the lender might offer, pending the full underwriting process. Bank of the West offers both prequalification and preapproval letters as a free service.
This lender doesn’t provide a specific list, but you generally need the following documentation to apply for a loan:
Bank of the West doesn’t specify its mortgage closing costs, but you can expect to pay application fees, title-related fees, the cost of an appraisal, documentation fees and for any required insurance and taxes. You should get an estimate of the fees associated with your loan within three days of your completed application.
To apply for a loan, you can contact a bank loan officer or fill out the online application to get started. Once submitted, a loan officer should contact you to complete the application process. Use your account to check on its status using the Loan Dashboard.
In addition to standard loan types, this lender offers:
Bank of the West offers most standard mortgage loans, including conventional and government-backed options, but very few specialty loans.
Most of the special programs focus on lowering interest rates. Its banking and investment customers could get an interest rate discount of up to 0.125% off the standard rate. Jumbo mortgage customers could get up 0.375% off the standard rate, depending on their loan amount.
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
This bank is not accredited by the Better Business Bureau (BBB). But as of August 2021, it has an A+ rating. It has closed 269 complaints in the last three years. Additionally, Bank of the West has a 1.04-star rating from 69 customer reviews at the BBB and a 1.6-star rating from 37 reviews on Trustpilot. Most customers complained about inadequately trained customer service and slow responses to concerns.
Customers on Zillow tell a bit of a different story, giving Bank of the West a 5-star rating from 74 customer reviews. Many customers applauded their positive experience and the bank’s knowledgeable team.
Bank of the West is a 135-year-old regional bank with services available in 19 states. The bank is wholly owned by BNP Paribas, which is in the top six highest-rated banks in the world according to Standard & Poor’s. Bank of the West is headquartered in San Francisco, California.
In September of 2020, American Banker selected Bank of the West as one of five Top Teams in its Most Powerful Women in Banking and Finance program. The bank earned this recognition for its commitment to diversity — women make up 31% of corporate officers and 34% of the operating committee.
Review by
Heather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, Credit.com and MediaFeed.org, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.
Bank of the West offers mortgages to borrowers in 19 states. But its products are standard, and without any of the assistance programs or specialty loans many of its competitors offer, you may want to shop around to make sure you get the best mortgage possible.