PURCHASE

What’s the right mortgage for you? Perhaps you are looking for a conventional 15 or 30 year fixed mortgage, or maybe you need a program that offers the lowest possible payment such as an adjustable rate mortgage?

Community Financial’s team of local, experienced mortgage experts can make the mortgage process easier. We’ll answer all of your questions on the purchase process, and help find the right mortgage option for you.

Buy Before You Sell

  • Gets you in your new home faster so you don't miss out on your dream home!
  • Expanded debt ratios to allow for existing house payment.
  • Minimum of 20% equity in existing home.
  • Strong credit score required.
  • Available on financing of primary residences only.

0% Down Program

  • Available to those with a Good credit score (720+).
  • Reduced PMI (or mortgage insurance).
  • No income limits.
  • Available for 15, 20, and 30-year Fixed Rate Terms and ARMs.
  • Available on owner-occupied properties only.
  • Available on loan amounts up to $453,100.

Fixed Rate Mortgage

  • Our most popular mortgage loan! 
  • If you’re planning on living in your home for more than five years and are looking for stable, predictable payments, then this may be your best option.
  • Competitive rates for 15, 20 and 30-year terms. Plus, our jumbo loans allow us to handle loans over $453,100.

*See Today's Rates for more info.

Adjustable Rate Mortgage

  • Consider an ARM if you’re confident that your income will increase steadily or if you plan to move in a few years.
  • Initial low rate is fixed for 1, 3, 5 or 7 years.
  • A maximum loan to value of 95%.
  • Annual re-pricing based on the 1-year CMT + 2.75% and a 30-year term.
  • Annual rate cap: 2.0%, lifetime cap: 6.0%.
  • Your annual percentage rate (APR) varies based on your loan amount and finance charges. ARM rates and points are subject to change without notice.

*See Today's Rates for more info.

FHA Mortgages

  • Low down payment and closing costs.
  • Insured by the Federal Housing Administration.
  • Relaxed credit score requirements.

*See Today's Rates for more info.

Rural Development Mortgages

  • Program allows low to moderate income families in rural areas the ability to purchase their primary residence.
  • Offer zero down payment financing, significantly reducing the amount of money needed to purchase a home. 
  • Lower credit score requirements.

*See Today's Rates for more info.

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