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At
Community Bank, we want to help you find a mortgage loan that's
a perfect fit for you and your family. Purchasing, constructing,
refinancing, or renovating your home is a huge undertaking and our
goal is to make the process as easy and simple as possible.
Our mortgage
experts will work with you to find the loan that best fits your
needs. We offer the following types of mortgage loans with a variety
of terms:
Community Bank
often has incentives for low to moderate-income individuals, families,
and first time homebuyers. For more information about these incentives
or any of the loan products listed above, please contact one of
our real estate lending professionals.
FIXED RATE
MORTGAGES
Loans that have terms of 15, 20 or 30 years. The interest rate and
payments remain constant for the term of the loan. These loans are
sold on the secondary market.
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IN HOUSE
BALLOON MORTGAGES
Loans that are done "in house" with fixed rate periods
of 2, 3, or 5 years. They are available with amortizations from
10 to 20 years.
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CONSTRUCTION
LOANS
Loans for the construction of a new home or an extensive remodeling
project that will result in a refinance of the original loan. After
the construction period, this loan must be converted to a long term
fixed rate mortgage or an "in house" balloon mortgage.
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BRIDGE LOANS
A short-term mortgage loan that allows you to purchase another home
before selling your existing home. This loan is only available to
those with sufficient equity in their present property.
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INVESTOR
LOANS (Rental Property)
A residential mortgage loan that allows a borrower to purchase or
refinance a property that is not the borrower's primary residence.
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FHA LOANS
Thirty year residential mortgage loans that follow Federal Housing
Administration (FHA) guidelines. These loans are available for purchases
only.
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VA LOANS
Thirty year residential mortgage loans that follow Veterans Administration
(VA) guidelines. You must be a veteran to qualify for this loan.
These loans are available for purchases only.
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FIRST TIME
HOMEBUYER LOANS
This loan product is for anyone who has not owned a home in the
last three years. There are income and purchase price guidelines
that also determine eligibility. This loan is underwritten by the
Iowa Finance Authority and is available for purchases only.
Community Bank
also participates in other loan programs that can be of assistance
to low to moderate-income individuals and families, and first time
homebuyers.
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Call or contact
us for more information on any of the mortgage loan
products listed here.
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The applications
are in Adobe Acrobat® (PDF) format and require Acrobat Reader.
If you do not have Adobe installed, please click on the icon
for a free download. |
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