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Community Bank offers a wide variety of loan programs to meet your needs. A sampling of our programs is below.

Please note that the interest rates shown below are available to borrowers based on the following:  primary residence, 20% down payment (conventional loans only), purchase, and excellent credit (for example, excellent credit would include a credit score of 740 for disclosed pricing).  The actual interest rate available to you will be based on a combination of these factors and may be different than the rates displayed here.  Rates and fees quoted require escrows for taxes and insurance.  For additional pricing information, please contact one of our Mortgage Loan Officers.

Interest rate, annual percentage rates (APRs), and costs below are subject to change without notice.

 
Conforming Loans
Conforming (15 Year Rate)
Jumbo Loans
FHA Loans
VA Loans
USDA Loans
Reverse Loans

Rates last updated on Tuesday, October 21, 2014

Conforming Loans

These loans meet Fannie Mae and Freddie Mac guidelines.  Various terms are available to fit your needs and include fixed and adjustable interest rates.  Fixed rate terms vary from 10 - 30 years.  Adjustable rates programs are fixed for an initial period of 3, 5, or 7 years and adjust annually thereafter.  Down payment requirements are higher than FHA, VA, and USDA programs, however loan limits are generally higher.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.99%4.09%0%
 

The APRs for this program are calculated based on a loan amount of $417,000 with prepaid finance charges of $1,514, points (as noted above), and closing costs of $4,279.


Conforming (15 Year Rate)

The requirements for this program are the same as for the Conforming Loans program noted above.

Term: 15 years   Maximum Amount: $417,000
RatesAPRPoints
2.99%3.022%0%
 

The APRs for this program are calculated based on a loan amount of $417,000 with prepaid finance charges of $1,412, points (as noted above), and closing costs of $4,279.


Jumbo Loans

This loan program is for loans with a balance exceeding the conforming loan limits.  Borrowers must be well qualified and larger down payments are required.  Terms of 10, 15, 20, 25, and 30 years are available. Adjustable rate programs are also available.

Term: 30 years   Maximum Amount: $2,000,000
RatesAPRPoints
4.5%4.59%0.75%
4.75%4.776%0%
 

Rates quoted are for fixed products only.  For additional information on adjustable rate loans, please contact us.

The interest rate and APR for this program are calculated based on a loan amount of $600,000 with prepaid finance charges of $2,912 and closing costs of $5,526.


FHA Loans

This is a long term fixed rate program that offers lower down payment requirements.  Terms available are for 30 or 15 years.  Loan limits are generally lower than comparable conforming loan products.  An upfront mortgage insurance premium (financed into the loan amount) as well as monthly mortgage insurance premiums apply to this program.

Term: 30 years   Maximum Amount: $368,000
RatesAPRPoints
3.375%5.442%0%
 

Maximum loan amount listed is for Santa Fe County.  Loan limits vary by county.

The interest rate and APR are calculated for this program based on a loan amount of $367,961 with prepaid finance charges of $8,387 ($6,329 of this amount is the Upfront Mortgage Insurance Premium which is included in your loan amount) and closing costs of $3,611.  Contact any Mortgage Loan Officer for information on how you may receive a lender credit towards closing costs through this program.


VA Loans

This is a government guaranteed loan for qualifying veterans.  No down payment is required.  This program does not allow the veteran to pay for certain closing costs.  For more information regarding these fees, please contact any of our Mortgage Loan Officers.

VA jumbo loans are also available up to a loan amount of $650,000.  Please contact us for more information regarding this product.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.5%3.612%0%
 

The APR is calculated for this program based on a loan amount of $417,000 with prepaid finance charges of $7,669 ($5,838 of this amount is the Guaranty Fee which is included in your loan amount) and closing costs of $3,833.  Contact any Mortgage Loan Officer for information on how you may receive a lender credit towards closing costs through this program.


USDA Loans

This is a government guaranteed loan.  No down payment is required.  The property must be in an eligible Rural Development eligible area.  There is a household income limit associated with this program.  An upfront and monthly guaranty fee are required with this program.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.5%4.092%0%
 

The interest rate and APR are calculated for this program based on a loan amount of $417,000 with prepaid finance charges of $10,179 ($8,337 of this amount is the Guaranty Fee which is included in your loan amount) and closing costs of $3,674.  Contact any Mortgage Loan Officer for information on how you may receive a lender credit towards closing costs through this program.


Reverse Loans

This product is for homeowners age 62 and over and may be a purchase or refinance.  Seniors can keep their homes and never make another mortgage payment.  The home must be a primary residence.  Counseling is required in conjunction with this program.  Contact us for more information.



If you have any questions regarding these programs or other programs not listed here, please feel free to contact any of our experienced Mortgage Loan Officers.

Important Notices

  • Closing costs may change depending on which party is identified as responsible for any particular cost on the sales contract.
  • The closing cost estimate does not include any advances that may be required at closing, such as insurance premiums due, property taxes, and initial deposit for an escrow account.
  • The points shown above are not guaranteed.  Your actual charge will be determined when you lock your interest rate.