Interested in one of our mortgage loans? **
CBBC Bank Mortgage offers:
Conventional loans- adhering to guidelines determined by Fannie Mae and Freddie Mac, conventional mortgage loans can have either an adjustable or fixed rate with terms. Conventional loans are not insured or guaranteed by the federal government.
FHA loans- This type of mortgage loan is insured by the Federal Housing Administration. The borrower is required to pay for mortgage insurance, but requirements can be a bit more flexible and interest rates more attractive than other types of loans.
USDA loans- USDA loans are offered to rural property owners by the US Department of Agriculture. Properties must be located in area designated by the USDA and income from all wage-earners is taken into account when you apply for the loan. Up to 100% financing is available.
VA loans- Guaranteed by the Department of Veterans Affairs, VA mortgage loans are designed for veterans and their spouses to borrow funds needed for a home without a down payment or private mortgage insurance.
Construction loans- If you are looking to start from scratch to build the home of your dreams, a construction loan may be what you are looking for. Usually the borrower will make interest only payments during home construction with funds released for payment to the builder at specified intervals. Once construction is complete, the loan can be converted into a conventional mortgage for repayment.
Home Equity Loans/ Lines of Credit- Home equity loans and lines of credit place a lien against the value you have built up in your home, similar to a standard mortgage, and loan amounts are determined by many factors, such as an appraisal of the property. Home equity loans have a one-time lump sum pay out, while home equity lines of credit allow you to pay back and re-borrow funds within the credit limit as many times as necessary throughout the life of the loan.
Mobile Home Loan- Financing for these loans can be just for the mobile home itself or can include both the home and land it will be placed on.
Vacant Land Loan- Available for both raw and improved land lots.