Home Mortgage Loans
When it comes to important life milestones, buying a home is at the top of the list. Whether you’re a first-time homebuyer or in the market for a second residence, home mortgage loans from Community National Bank & Trust can help you unlock the door to your dream property.
As a type of consumer loan, our selection of home mortgage loans allow you to finance residential property, as well as land and lots. At CNB&T, we offer the following home mortgage loans to help meet your needs in purchasing or refinancing real estate:
Fixed-Rate Mortgage Loans
Conventional fixed-rate mortgage loans are home or property loans that maintain a constant interest rate throughout the life of the loan. Ranging from 10 to 30 years, fixed-rate loans provide budget-friendly monthly mortgage payments for those looking for stability. With CNB&T’s fixed-rate loans, you can:
- Purchase a new home or refinance your current home
- Finance a primary residence or a second home
Apply for a fixed-rate mortgage loan today.
Adjustable-Rate Mortgage Loans
Adjustable-rate mortgage (ARM) loans are home loans that start at a low introductory interest rate for 3 to 10 years. Once the introductory period is over, the interest rate then fluctuates based on a benchmark interest rate index and the terms of your loan. These loans can potentially save you thousands of dollars, as your payments could decrease with changing interest rates. ARM loans can be used for purchases like:
- New home purchase or refinance of your current home
- Financing a primary residence, second home, or investment property
- Construction or bridge loans
Apply for an ARM loan today.
Government Home Loan Programs
Government home loan programs allow qualified buyers to access things like lower minimum down payments, grants, assistance with closing costs, and savings on interest on purchasing or refinancing a home. A few of the government home loan programs CNB&T offers include:
- USDA & RD: Rural development loans are backed by the U.S. Department of Agriculture, providing assistance to lower-income borrowers living in qualified rural areas.
- FHA: Insured by the Federal Housing Administrations, these loans can help consumers with lower credit scores and little money saved for a down payment.
- VA: Backed by the U.S. Department of Veterans Affairs, these loans work to forgo down payments for active military personnel, veterans, and their families.
- First-Time Home Buyer Programs: These home loan programs allow first-time homebuyers to access things like down payment grants and closing-cost assistance in qualified areas.
Apply for a government home loan program today.
Home Equity Line of Credit (HELOC)
Resembling a second mortgage but functioning like a credit card, a home equity line of credit is a revolving credit source that uses your home as collateral against defaulting on borrowed funds. Simply put, HELOCs allow you to borrow against the equity in your home when you need money to help cover important expenses—including paying for home repairs or remodels, buying a car, supporting college tuition funds, or consolidating debt.
Apply for a HELOC loan today.
Unlock the Door to Your Dream Home
At Community National Bank & Trust, our wide selection of home mortgage loans can help you open the door to a new chapter of your life. Feel free to give our associates a call to find out more about our home mortgage loan programs. If you’re ready to apply today, check out our loan calculators to estimate things like how much you can afford to borrow, find your loan application above and fill it out, and bring it to your nearest CNB&T banking center