Are Exchange Bank home loans underwritten locally?

Yes. Underwriting sits at the Santa Rosa main office with a team of local underwriters, processors and closing coordinators. Files do not route through a national processing centre in another time zone. Local underwriting shortens the critical inventory-decision window in Sonoma, Marin and Napa markets where multiple-offer scenarios are common. Appraisals are ordered through a California-licensed AMC familiar with Wine Country valuation nuances.

Exchange Bank Home Loans: Sonoma County Mortgages Underwritten Locally Since 1890

Q: What home loan programs does Exchange Bank offer?

Programs include conforming fixed-rate mortgages in 30-year and 15-year terms, a 5/1 adjustable-rate mortgage, FHA loans with low down payment, VA loans with zero down for eligible veterans, CalHFA first-time-homebuyer programs for California residents, construction-to-permanent loans that fund a Sonoma County build and convert to a mortgage on completion, and Jumbo mortgages above the conforming loan limit. Every program is originated by NMLS-registered loan officers.

Q: What is the CalHFA first-time-homebuyer program?

CalHFA is the California Housing Finance Agency. Its programs pair a conforming first mortgage with state-provided down-payment and closing-cost assistance for income-qualified California first-time buyers. Exchange Bank is an approved CalHFA lender. Eligibility rules, income caps and current program details are published at calhfa.ca.gov. The bank's loan officers coordinate the CalHFA submission alongside the primary mortgage application.

Q: Does Exchange Bank offer construction-to-permanent loans?

Yes. A construction-to-permanent loan funds the build of a new Sonoma, Marin or Napa county home through a series of draws tied to construction milestones, then converts to a standard amortizing mortgage when the certificate of occupancy is issued. A single closing covers both phases, saving the borrower from two sets of closing costs. Draw schedules, inspection requirements and reserve rules are disclosed at application.

Q: What FHA and VA programs are available?

FHA loans allow low down payment and flexible credit requirements, with mortgage insurance as part of the payment. VA loans are available to eligible active-duty service members, veterans and surviving spouses, and often carry zero-down-payment financing with no ongoing mortgage insurance. Current HUD guidelines for FHA are published at hud.gov. The bank's NMLS-registered loan officers verify eligibility, handle Certificate of Eligibility requests and structure the file accordingly.

Seven mortgage programs tailored to Northern California buyers — conforming 30-year and 15-year fixed rates, 5/1 ARM, FHA, VA, CalHFA first-time-homebuyer, construction-to-permanent and Jumbo. Every Exchange Bank home loan is underwritten at the Santa Rosa main office by local underwriters and originated by NMLS-registered loan officers under NMLS #643343.

Buying in Sonoma, Marin or Napa counties often means competing offers and short decision windows. Local underwriting shortens the review cycle and keeps decisions close to the market. Federal housing program details are published at hud.gov and California first-time-buyer programs at calhfa.ca.gov.

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Exchange Bank home loan dashboard with conforming, FHA, VA, CalHFA and Jumbo program tiles

Program	Down Payment	Term	Max Loan	Notes
Conforming Fixed (30-yr)	3% – 20%	30 years	Conforming limit (county-dependent)	Flagship program, most common
Conforming Fixed (15-yr)	5% – 20%	15 years	Conforming limit	Lower rate, higher payment, faster payoff
5/1 ARM	5% – 20%	30 years (5-year fixed)	Conforming limit	For buyers moving or refinancing inside 5–7 years
FHA	From 3.5%	30 years	FHA county limit	Flexible credit profile, MIP required
VA	0%	30 years	VA county limit	Eligible veterans, no ongoing MI
CalHFA First-Time Buyer	0%–3% with DPA	30 years	CalHFA limit	Down-payment assistance, income-qualified CA buyers
Construction-to-Permanent	10%–25%	Build + 30-yr amortization	Project-budget based	Draws during build, single closing

Conforming Fixed: 30-Year and 15-Year

The flagship mortgage programs. A 30-year fixed holds the rate flat across three decades, minimising monthly payment. A 15-year fixed trades higher monthly payment for a materially lower total-interest cost and double-speed equity build. Both qualify for conforming-limit financing with Fannie Mae / Freddie Mac-aligned underwriting. Common fit: first-time buyers, refinancers, trade-up families. Rate-lock available once the property is identified and appraisal ordered.

5/1 Adjustable-Rate Mortgage

Rate stays fixed for the first 5 years, then adjusts annually based on an index plus margin disclosed at closing. The initial 5-year rate is typically lower than a 30-year fixed. Works well for buyers planning to sell or refinance inside 5–7 years — for instance, a household expecting a transfer out of Santa Rosa or planning a trade-up after equity accumulation. Rate-cap structure (initial, annual and lifetime caps) limits adjustment magnitude.

FHA & VA Programs

FHA loans permit low down payment (from 3.5%) with flexible credit requirements; mortgage-insurance premium is part of the payment. FHA guidelines are published at hud.gov. VA loans are available to eligible active-duty service members, veterans and surviving spouses, typically with zero-down financing and no ongoing mortgage insurance. Exchange Bank assists with Certificate of Eligibility requests. Both programs fit first-time buyers and households that would otherwise need larger down-payment savings.

CalHFA, Construction-to-Permanent & Jumbo

CalHFA pairs a first mortgage with state down-payment and closing-cost assistance for income-qualified California first-time buyers — details at calhfa.ca.gov. Construction-to-Permanent funds a Wine Country build through milestone draws and converts to a standard mortgage on completion, all with one closing. Jumbo mortgages finance properties above the conforming loan limit — common in Healdsburg, Glen Ellen, Sonoma and Napa premium markets.

Pre-Approval Before Offer

Most Sonoma, Marin and Napa buyers start with a pre-approval letter before touring properties. Pre-approval involves a credit pull, income and asset documentation review and a conditional commitment letter stating the maximum purchase price the borrower qualifies for. A strong pre-approval letter from Exchange Bank often carries weight with local listing agents who know the bank's local underwriting and closing record. Pre-approval typically expires after 90 days; the file is refreshed with updated pay stubs and bank statements if the search extends.

Documentation includes W-2s or 1099s, two months of bank statements, two years of tax returns (self-employed borrowers), and clear documentation of any large recent deposits. Regulation Z (Truth in Lending) disclosures arrive within 3 business days of a complete application.

Mortgage pre-approval meeting with Exchange Bank loan officer at Santa Rosa branch

Local underwriting team reviewing Sonoma County mortgage file with appraisal and title documents

Local Underwriting and Appraisal

Once a property is in contract, the file moves to local underwriting at the Santa Rosa main office. An appraisal is ordered through a California-licensed appraisal management company with Wine Country coverage — appraisers understand vineyard-adjacent valuation, fire-risk zoning and agricultural use overlays that generic out-of-area appraisers sometimes miss. Title work is coordinated with a local California title company.

Underwriting issues a conditional approval listing any remaining items (proof of homeowners insurance binder, clarifying documents) and a final approval once conditions clear. Typical contract-to-close is 25–35 days for straightforward conforming files, 30–45 for FHA, VA and CalHFA.

Rate-Lock and Closing

Rate-lock options range from 30 to 60 days depending on program. A lock freezes the interest rate regardless of subsequent market movement during the lock period; an extension fee may apply if closing extends beyond the lock window. The Closing Disclosure — Regulation Z's five-page cost summary — issues at least 3 business days before closing so the borrower can review the final terms and closing costs.

Closing typically happens at a local California title-company escrow office. The loan officer and processing team remain the primary contacts throughout. Post-closing, the mortgage is serviced by Exchange Bank or a servicing partner disclosed at closing; payment options include auto-debit from an Exchange Bank checking account, online bill pay and mail-in remittance.

Closing signing at California title company escrow office with loan officer present

Personal Credit

Home-equity line of credit and home-equity loan for post-close tap of equity.

Premier Checking

Mortgage-customer relationship pricing on checking and ATM rebates.

Savings Accounts

Build down-payment funds in a dedicated savings or Money Market.

Money Market

Tiered-APY holding for down-payment savings 6–18 months out.

Commercial Real Estate

Investor and multi-unit property financing — separate from owner-occupied home loans.

Digital Banking

Schedule mortgage payments and view amortization online.

What home loan programs does Exchange Bank offer?

Conforming 30-yr and 15-yr fixed, 5/1 ARM, FHA, VA, CalHFA first-time-buyer, construction-to-permanent and Jumbo. Every program is originated by NMLS-registered loan officers under NMLS #643343.

Are home loans underwritten locally?

Yes — at the Santa Rosa main office. Local underwriters, California-licensed appraisal management and local title coordination. Files do not route through out-of-state processing centres.

What is the CalHFA first-time-homebuyer program?

A California state program pairing a conforming first mortgage with down-payment and closing-cost assistance for income-qualified first-time buyers. Details at calhfa.ca.gov.

Does Exchange Bank offer construction-to-permanent loans?

Yes — milestone draws during the build, single closing, converts to a 30-year amortizing mortgage at certificate of occupancy. Saves two sets of closing costs.

What FHA and VA programs are available?

FHA with 3.5% minimum down and flexible credit; VA with zero-down for eligible service members, veterans and surviving spouses. Guidelines at hud.gov.