Mortgages

Purchase a new home or refinance your existing home with predictable and steady monthly mortgage loan payments. A fixed rate mortgage loan offers a consistent principal and interest payment for the life of your loan.

• Down payments as low as 3% of the purchase price
• Flexible terms available
• Available for primary and secondary homes, investment properties, and manufactured homes
• No pre-payment penalties

Each ARM loan option features a fixed rate for its initial term. After the initial term, the rate and payment could increase or decrease.

• Lower payment for the first years of your loan
• Initial fixed rate terms available for 1, 3, 5, 7, & 10 years
• Flexible terms available
• Available for primary and secondary homes, investment properties, and manufactured homes
• No pre-payment penalties

First-time homebuyers have a variety of programs and incentives to purchase your new home with a small down payment and lower rates. Why rent when you can own?

• First Front Door Program

This First-Time Homebuyer program allows you to purchase your new home with a small down payment and a low fixed rate.

• Flexible terms available
• Up to 100% of the purchase price can be financed
• Lower Mortgage Insurance premiums
• Can combine with the Down Payment/Closing Cost Assistance Program

RefiNow is a new refinance mortgage option with flexibilities aimed at making it easier and less expensive for qualifying homeowners to reduce their monthly housing costs.

• Debt-to-income ratio (DTI) up to 65%
• Interest rate reduction of at least 50 bps required
• A reduction in the monthly payment that includes principal, interest, and the mortgage insurance payment (if applicable)

Clear Mountain Bank can help you purchase land. We offer land loans with competitive rates and flexible terms available. This type of loan will help finance a residential lot with intentions of future residential development or raw land used for recreational use.

• Flexible terms available
• Finance up to 90% of the purchase price on residential lots
• No pre-payment penalties

Clear Mountain Bank can help you purchase land. We offer land loans with competitive rates and flexible terms available. This type of loan will help finance a residential lot with intentions of future residential development or raw land used for recreational use.

• Flexible terms available
• Finance up to 90% of the purchase price on residential lots
• No pre-payment penalties

A USDA loan, also known as Rural Housing loans, offers loans for low-to-moderate income borrowers in designated rural and suburban areas, with no money down and a low fixed rate.

• No down payment requirement
• Fixed rates
• Closing costs may be financed if the appraisal value exceeds the purchase price.
• No reserve requirements
• No pre-payment penalties
• Lower monthly mortgage insurance premiums compared to conventional mortgage insurance.

Ask us about loan options exclusive to qualifying veterans of the Armed Services, those currently in active duty or the reserves, and widows and widowers of veterans.

This program allows you to borrow more than $417,000. These jumbo loans have fixed and adjustable rate options for both primary residences and vacation homes.

• Fixed and adjustable rate terms
• Flexible terms available
• No pre-payment penalties
• Finance up to 85% for a purchase

If you are a physician, resident, or fellow, we offer a mortgage program that will lend up to 100% with no private mortgage insurance. The Physician loan is designed to assist healthcare professionals with the purchasing or building of a primary residence.

• Adjustable rate options
• Up to 100% financing and no monthly mortgage insurance payments
• Competitive pricing
• Flexible terms available
• No pre-payment penalties

Clear Mountain Bank will allow you to make interest-only payments during your new home's construction phase and automatically convert into permanent financing when your house is complete.

• Interest only payments during construction phase
• Flexible terms available
• Automatically converts to permanent financing
• No pre-payment penalties

Our team of Mortgage Specialists is sure to help with all your mortgage and refinancing needs. Contact us today to learn more.