Bank Notes Blog Article
Bank Notes Blog Article

Ashley Rottinghaus

What is the process for borrowing money to build my dream home?

If you want to build your new home rather than purchase an existing property, the home buying process is a little different. At West Bank, you would first see one of our construction loan officers located at the Waukee, Iowa branch to arrange temporary financing for the construction of your new home. After construction is completed, you would typically obtain permanent financing in the form of a conventional mortgage loan or a jumbo mortgage loan. I am here at the Waukee Branch to help you with that transition.

What is a Jumbo Loan?

A jumbo mortgage, or jumbo loan, is a home loan that’s larger than the conforming loan limits set by Fannie Mae and Freddie Mac. Currently, $484,350 is the limit for conventional mortgage loans in our markets. Jumbo loans are considered riskier for lenders because these loans aren’t guaranteed by Fannie Mae and Freddie Mac, meaning the lender is not protected from losses if a borrower defaults. If your permanent financing needs exceed $484,350, you will typically need a jumbo mortgage loan.

If a jumbo mortgage loan is higher risk, will my rate be higher than for a conventional mortgage?

Yes, but we make the process straight forward so there are no surprises. We offer both reduced or no origination charge options along with fixed closing costs loans. I am the West Banker who handles all of our jumbo mortgages, but I can, of course, help you with conventional mortgages as well. 

What’s the point that makes doing business with West Bank stand out from the crowd?

Not all financial institutions offer construction lending. We have an experienced team of construction lenders right here at our Waukee location. West Bankers Terry Wilhelm NMLS#499851, Luke Mohlenhoff NMLS#476527, and Dan Fitzgerald NMLS#1752886 are knowledgeable and well-equipped to guide you through the process.

Once construction of your new home is completed, West Bank makes the transition to permanent financing smooth for you. By the time you are ready for the transition, you have already established a relationship of mutual trust with your lender. 

How will I be able to compare West Bank with another financial institution’s pricing?

Once you have a Loan Estimate, a disclosure that all financial institutions are required to provide to borrowers, you can do an apples-to-apples comparison and see what the true cost of your loan will be.  

In your experience, what do you think is the most valuable part of financing your new home construction through West Bank?

My priority is building the trust relationship with you, the borrower, so that you know that I'm providing you with all of the information you need up front.  Once you have those Loan Estimates and do that side by side comparison, you can see that we're very competitive with our pricing and our rates.

About Ashley Rottinghaus:

Ashley Rottinghaus joined West Bank in 2014. She has 10 years of banking experience in customer service, retail, operations, and management. In 2019, she became the Branch Manager of our Waukee Branch.

Ashley is originally from Iowa City and earned an AA in Liberal Arts from Kirkwood Community College.

Active in the community, Ashley enjoys representing West Bank at various functions. She is a member of the West Bank Women’s Impact Network steering committee which seeks to build strong relationships with women business owners and supports the advancement of women in banking.

Connect with Ashley: | phone 515-222-5748


Connect with Our Construction Loan Officers:

Terry Wilhelm | 515-221-7743

Luke Mohlenhoff | 515-221-7744

Dan Fitzgerald | 515-222-2339

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Posted: 2019-06-21

Categories: Personal Finances , Mortgage Loans

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