The idea of building the home of your dreams is an exciting endeavor; however, it can be an intimidating process leaving you stumped on where to begin and what to expect. To help you bust the seven biggest myths of building and to give you the tips, tools and confidence to start the construction process…
SavvyMoney™ is a tool to keep track of credit score reports and provides credit monitoring, alerts, personalized offers and expert insight on how to improve and strengthen your credit. It is a free service provided to our customers through our digital banking platform. Utilizing VantageScore 3.0 from Transunion, you’re able to check your credit score…
Yes, we do! We’re one of the only banks in the area with a dedicated plan for funding ADUs. We offer six loan options and can help you decide which works best for your financial outlook and the amount of equity in your main house. Many of our loan options can include the value of the ADU…
Yes, you can manage your own construction project. Our Loan Officers can help guide you through the construction loan process to help prepare you to be your own construction project manager. Our BUILT application tool provides real-time collaboration with OlyFed for faster draws and simple budgeting. By eliminating paper, email threads and multiple calls, this…
Typically the loan process will take approximately 30 days. We have an amazing loan team in place to be able to meet your deadline.
The total fees that you will pay will vary depending on the loan program that you choose and the loan amount.
Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay when you take out a home loan and make a down payment less than 20%. The insurance protects the lender for at least some of the shortfall if the home is sold in foreclosure for less than the outstanding amount…
Yes. Please download our checklist PDF. If you have questions, call (360) 754-3400 to speak with one of our knowledgeable and non-commissioned loan officers.
In order to get a building permit, you will need to file a permit application with the city planning department in the municipality where the project will occur. Most applications will also require that you submit drawn plans showing the work that is to be done and pay a permit fee.
Mortgage points, also known as discount points, are fees paid directly to the lender at closing in exchange for a reduced interest rate. Olyfed does not have a program in place to allow borrowers to purchase points.
