Refinancing your home mortgage is easy with the help of our expert lending team. At The Community Bank, we can refinance your original loan and perhaps reduce your interest rate and your monthly payments to enhance your overall financial plan.
Rates are LOW – don’t miss your opportunity to shave years off your home loan and put those saved dollars back in your wallet!
- Limited-time refinance fee $495*
- Lower your monthly payment
- Consolidate debt and save more money
- Shorten loan term
- Local decision making
- Investing money back into our community
Call today for your FREE loan consultation by contacting your local Community Bank lender or Banking Office
Your actual rate depends upon credit score, loan amount, loan term, and credit history. No cash out. Refinance of single family, owner – occupied residential real estate. The minimum loan amount is $10,000.00. The Loan to Value limits are 85% loan to value, based on the appraised value. Maximum maturity is a 30 year term. There is no prepayment penalty or down payment. Closing of your loan is contingent upon your approval and agreement to all of the required disclosures at the Community Bank. The Annual Percentage Rate on a 7/1 ARM ranges from 4.487-5.496% depending on loan to value and credit score. Limited time loan origination fee of $495. For example on a 7/1 Adjustable Rate Mortgage, if you have a credit score of 800 and a Loan to Value of 80% and below, you could receive in this instance a loan of $50,000.00 with an adjustable interest rate of 4.25, Loan Origination Fee of $495.00, plus any additional Other Costs paid by borrower (in this example the “Other Costs” paid by the borrower are $135.76 for prepaid interest) for an APR of 4.487%. In this example your adjustable rate loan of $50,000.00 for 30 years 7/1ARM, has a starting Monthly Principal & Interest Payment of $245.97. Your interest rate remains fixed at 4.25% and can adjust every year starting in year 8 with a margin up to 3.5% + 1 year Treasury Index. Your highest monthly interest rate can go as high as 10.25% in year 10 and your highest Monthly Principal and Interest Payment, in this scenario, would be $403.00. In this example the total amount repayable will be $90,831.86.