Commercial Bank Makes It Easier To Buy A New Home
Buying a new home should be a pleasant experience. We'd like to make it that way by taking the worry out of applying for a mortgage. We have a mortgage loan to fit your needs. From purchase loans, to construction loans, to home equity lines of credit, we can match one of our loan programs to your circumstances. A pre-approval will allow you to search for the home that best fits your budget. Fast approvals and friendly, experienced loan officers make Commercial Bank the easy choice for all of your mortgage loan needs. Contact the branch of your choice to talk to a mortgage professional.
Fixed Rate Loans have fixed monthly payments for the entire life of the loan which make it easy to budget for.
Adjustable Rate Loans usually start with lower rates than conventional fixed-rate loans. We'll let you know how much the rate can be adjusted over the life of the loan, so you'll know from the beginning the absolute maximum amount you would ever have to pay. If you will be moving in a few years, or if you think interest rates will be going down, you'll want to consider an adjustable rate since monthly payments may be lower.
There are numerous and complicated decisions to make when building a new home. The professionals at Commercial Bank can take care of all your construction loan needs, leaving one less thing for you to worry about. We work with most builders and building material companies to insure that you enjoy easy and uncomplicated transactions.
Home Equity Loan
Use the equity in your home as collateral for a low interest loan. Home equity loan features include competitive variable or fixed rates with a fixed monthly payment for the life of the loan. The amount of the loan is based on the equity in your home. You can consult a professional tax advisor to see if the interest is tax deductible. Use the loan money for a home improvement project or almost anything.
Home Equity Line of Credit
The equity in your home can also be used as collateral for a line of credit. Gain access to the funds when you need them, re-use without reapplying and only pay interest on what you use. You can get a competitive adjustable rate.
Is your current interest rate too high? In just a few short minutes we can evaluate your situation and let you know whether a refinance on your mortgage makes sense or not.
Information Needed at Application (All loans are subject to credit approval.)
- Most recent pay stubs for 30 days
- Last two (2) years W-2 or 1099 forms
- Most recent consecutive two (2) months bank statements
- Copy of Purchase Contract on Home (if refinancing, copy of Deed with Legal Description).
Deciding whether to rent or buy? Calculate the difference HERE