PURCHASE

What’s the right mortgage for you? 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.

Contact a Mortgage Specialist

Mortgage Options:

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.

Fixed Rate

  • 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.
  • Jumbo loan financing available.

Adjustable Rate

  • 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 rate cap: 2.0%, lifetime cap: 6.0%.

Rural Development

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

Considering Homeownership

Learn more about the upfront and ongoing costs of homeownership and how they will fit in with your other expenses. This educational lesson in our Money Matter$ eLearning Center will explore loan choices, home buying resources and more.
 

Homeownership Learning Module

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