Buying a house can be an exciting time, but it can sometimes be overwhelming. Let our professional staff help you through the mortgage process. At Community Bank of Bergen County you'll find the personalized service and attention that you can't always get at larger banks. Beyond our competitive rates, we will work with you every step of the way-giving you greater peace of mind.
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If you are interested in applying online for one of our great mortgage products or want to receive rate alerts try using our Online Mortgage Center. It's as easy as 1-2-3!
Choosing a fixed rate mortgage is most popular when purchasing or refinancing your home. Your interest rate and monthly principal and interest payments will remain the same for the lifetime of your loan protecting you from rising interest rates. The advantage of a set payment each month makes budgeting your finances easier.
Community Bank has a new line of fixed mortgages to offer to their customers. Introducing the Prestige Fixed Rate Mortgages! These mortgages are available in 15, 20 or 30 year loan terms with competitive rates, no points and are fixed for the life of the loan.
If you are buying a new home and want lower payments than a fixed rate mortgage may provide, Community Bank's adjustable rate mortgages (ARM) are a great alternative. Our adjustable rate mortgage loans usually offer a lower interest rate for a predetermined period of time. Community Bank offers a 5, 7, or 10 year adjustable rate mortgages fixed for the first " initial rate period" and then adjusts annually. As time goes on, your interest rate may change depending on the fluctuations in the market. This may be a good option for you if you plan to sell or refinance your home within the first few years of owning your home.
Should you choose an adjustable rate mortgage loan, don't worry. The interest rate will never increase more than two percentage points at each adjustment period or adjust more than six percentage points over the lifetime of the loan.
Contact one of our Mortgage Loan Representatives to help you decide which mortgage may be your best option.
Adjustable Rate Mortgages - Key Features and Benefits
We are known throughout the area for providing construction financing without the hassles. With fast decisions and easy disbursements, our construction loan program continues to be the choice for individuals, developers and contractors.