Mortgage Loans

Helping Dreams Come True

At Mountain Commerce Bank, our mortgage loans to purchase or refinance your home are tailored to your needs, not the other way around. In today’s turbulent financial environment, isn’t it nice to know there’s a bank that will not only keep its promises, but also work with you to make sure the loan fits your particular needs?

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.

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For current rates and terms on mortgage loans, call or visit an MCB branch location near you.


Fixed-Rate Loans – 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.

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Adjustable-Rate Loans – Adjustable-rate mortgages allow the borrower to take advantage of short term rates, generally resulting in lower initial monthly payments when compared to fixed-rate mortgages. The interest rate resets at the end of the rate term, usually resulting in a lower amount of principal to re-price, or refinance. This is ideal for someone who is interested in qualifying for a larger loan, a lower payment, or wants to save money in the short-term. Borrowers who are comfortable taking on risks or who feel their income will increase to cover possible payment increases often make this choice.

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Jumbo and Non-Conforming Loans – 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.

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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.

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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.

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Home Equity Lines of Credit – Home Equity 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.

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Second Mortgages – Second mortgages are another way to utilize the equity built into existing homes, but are structured like a fixed rate loan, rather than a line of credit. 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.

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HARP Loans – The Home Affordable Refinance Program (HARP) is a government program designed to give homeowners an opportunity to refinance at today’s low rates and at a shorter term, even if they owe more than their home is worth. This product is ideal for someone who has seen a drop in home values, but is current on their mortgage at the time of refinance and has had no delinquencies in the past six months.

* 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 the .25% interest rate discountwhen 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.
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