At Mountain Commerce Bank we have stayed true to our roots, keeping promises and helping our customers and our communities prosper.
Rather than offer the same product to everyone, we listen to your needs and design loans that make sense. We believe mortgage loans should fit your financing needs, not the other way around. And to back that up, we have experienced responsive loan officers to help you through the process.
At MCB we offer:
Whether you’re buying a new home, remodeling, or simply trying to determine if refinancing is right for you, we can help. Our mortgage specialists will explain the various loan options available and help determine which option may best meet your goals and objectives.
Fixed-Rate Mortgages – The fixed-rate mortgage is the most common type of mortgage product. In addition to being simple, it provides the peace of mind of a set monthly payment (principal and interest) that do not change over the term of the loan. The loan balance is reduced monthly over the set term of the loan, and there is no prepayment penalty for making additional payments to principal. This is ideal for someone who wants the peace of mind of a set payment, regardless of fluctuations in the financial markets.
Jumbo & Non-Conforming Mortgages – Jumbo loans are designed for borrowers wanting to finance in excess of $417,000. Fixed and adjustable rates can be offered on a Jumbo loan, though rates and conditions will generally be higher than standard loans.
Home Equity Loans / Lines of Credit – Home Equity Loans and Lines of Credit (HELOCs) are a way to utilize the equity built into existing homes. Using a preset line of credit, HELOCs are used for remodeling projects, high-end consumer purchases, debt consolidation, and many other purposes. HELOCs provide low rates, flexible terms, and little closing costs.
USDA/Rural Home Loans – USDA guaranteed loans provide low and moderate income rural residents with better access to affordable housing finance options with little or no down payment or out-of-pocket costs. Property address must be in USDA eligible rural areas and borrowers must meet specific USDA criteria such as income and asset requirements to be eligible.
FHA Loans – The Federal Housing Administration (FHA) backs loans to offer mortgages with lower down payments, more favorable qualifying criteria, and options for those with less-than-perfect credit, or with no established credit history. An FHA loan is ideal for someone who has less than 20% of their homes value available as a down payment, or less than 20% equity in their current home. Purchases can also be made with a down payment as little as 3.5% of the total loan.
VA Loans – The Veteran’s Administration (VA) Loan program enables veterans and active duty personnel to purchase or refinance a home with favorable loan terms, including no down payments, no private mortgage insurance (PMI), and no prepayment penalties. Qualifying criteria is also more favorable than most standard fixed and adjustable-rate loans.
|* All loans are subject to credit approval. Certain restrictions and conditions may apply. Rental properties are not applicable. MCB checking or savings account with auto debit of the monthly payment is required to obtain an interest rate discount when mortgage is kept in-house only. Property insurance is required. Closing costs will apply. Other fees may apply. A minimum credit score of 625 is required for secondary mortgages. Contact an MCB representative for specific mortgage loan rates, monthly payments, terms, and requirements.|