ABOUT US
The Bank of Commerce is a full-service community bank headquartered in Idaho Falls, Idaho with 15 locations in Southeast Idaho and a branch in Dillon, Montana. Locally-owned and operated, the Bank has been serving its communities since 1959 and specializes in commercial and residential real estate, small business and agricultural lending.
The Bank of Commerce has earned and maintained Bauer Financial's recommendation (5-Stars or 4-Stars) for over 30 years. The Bank is consistently rated in the Top 100 Ag Lenders in the nation (Source: FDIC statistics). Additionally, The Bank of Commerce was recently named one of Independent Community Banker Association's Top Performing Banks with over $1 Billion in assets.
No matter where you are we have Loan Officers available to help you. Mortgage loans are processed and underwritten in our branch located at 375 N. Yellowstone in Idaho Falls. We also have mortgage lenders located at our Pocatello and Dillon offices. Our mortgage team has 111 years combined experience.
WHAT TO EXPECT
We've built the most convenient home loan service ever!
Here's how it works.
1. You'll complete an online application.
The application will ask questions about the home and your finances and takes less than 20 minutes to complete. As soon as you've finished the application we'll begin to process your request immediately.
After your application is completed, a Loan Officer will contact you to introduce themselves and to answer any questions you may have. Your Loan Officer is a mortgage expert and will provide help and guidance along the way. If your request wasn't approved online, they'll ask you for any information required to make a decision about your loan.
If you are purchasing a new home, please let your Loan Officer know who the Real Estate Broker or the seller is so that they'll know who to contact with questions.
2. We'll send you an application package and prepare your loan for closing.
The application package will be sent to you containing papers for you to sign and a list of items we'll need to verify the information you provided about your finances during the online application. This package will also include a Loan Estimate that will contain a breakdown of the fees and charges associated with your loan. After you have reviewed the Loan Estimate and given us your approval to proceed, we will order the appraisal.
We'll order the appraisal from a licensed appraiser who is familiar with home values in your area. Depending on your finances and the loan amount requested, different types of appraisals are used. Sometimes the appraiser will need to view the home; sometimes they are able to do their evaluation from the street.
Title insurance will be necessary. If you are purchasing a home we'll work with the Real Estate Broker or seller to insure the title work is ordered as soon as possible. If you are refinancing we'll take care of ordering the title work for you. We'll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.
3. We'll contact you to coordinate your closing date.
After we receive your application package, the appraisal, and the title work, you'll receive a Closing Disclosure with all of the final charges and fees. Then we will contact you to schedule your loan closing. If you are purchasing a home, we'll also schedule the closing with the Real Estate Broker and the seller.
The closing will take place at the office of a title company or attorney in your area who will act as our agent. A few days before closing your Loan Officer will contact you to walk through the final information.
That's all there is to it! Apply Now and you will be on your way to the most convenient home loan ever!
ITEMS NEEDED TO PROCESS YOUR LOAN
- Copy of purchase and sales agreement (if applicable)
- Home address (past two years)
- Employer's name and address (past two years)
- Last two pay stubs and last two years W-2s
- Proof of other income (rental agreements, alimony, etc.)
- Last two bank and brokerage statements
- Loan/creditor balances, account numbers and payments
- Landlord's name, address and phone number (if applicable)
- Deposit for credit report, etc.
- Past two years tax returns
- Year-to-date profit/loss and balance sheet (if self-employed)
Apply now for a better mortgage experience!
