Whether you're buying a home or want to refinance your existing mortgage , Community Bank & Trust of Florida may have a loan that will meet your needs. And understanding that each person's needs are different, we deliver our mortgage solutions in a very personal way. Our Mortgage Officers are with you from the start, helping you to choose the best option and stay with you every step of the way from application to closing. All Loans Subject to Credit Approval.
Types of Home Loans
Not all mortgages are the same. There are different home loans to choose from and the best choice depends upon your personal situation and objectives.
Fixed Rate Mortgages:
This type of residential loan makes budgeting easier by locking in your mortgage interest rate and payment amount for the life of the loan. It can be ideal if you're planning to stay in your home for a long time or if you want to protect against a future interest rate rise. Fixed rate mortgages are often what is referred to as conforming loans, meeting certain Federal home lending guidelines. These include the size of the loan, term, down payment amount and the borrower's credit qualifications.
Adjustable Rate Mortgages (ARMs):
An adjustable rate mortgage can give you access to a local lender and can provide flexibility with different types of properties. You may lock in your rate and payment for a specific period of time initially and after that the interest rate and payment amount may adjust. This kind of loan may be a good fit if you don't plan to stay in your home for a long period of time.
With interest rates at or near historic lows, it may make sense to refinance your existing mortgage. Refinancing your home loan could save you money with a lower interest rate and more flexibility in your budget by lowering your monthly payment.
Combine a construction loan with an adjustable rate mortgage with one closing. Our experienced staff will also help you through the construction process.
For high-end homes, loans to qualified applicants may be available for a fixed or adjustable rate mortgage.
Residential Lot Loans:
Finance the acquisition of your future home site in anticipation of building your primary residence within five years.
Manufactured Home On Your Lot:
Finance an existing manufactured home and lot combination. Call us for rates and terms available.