What are no-PMI mortgages?
Private Mortgage Insurance (PMI) is an extra homebuying expense, but at Community Bank, we make it easy to eliminate it altogether with our 90% no-PMI mortgages. How it works is simple: By putting a 10% deposit down (instead of the traditional 20%), we waive the need for PMI on your new home. That way, you can save upfront PMI dollars before you move in, while NOT paying PMI payments after you do.
Reach out to your local Mortgage Loan Consultant to learn how we can help you save on your new home today.
Can’t avoid PMI? Let’s lower it.
Putting 10% down is easier said than done. Fortunately, we offer reduced-PMI mortgages to help you get the home you deserve. Less insurance means more money in your pocket! Here’s how we do it:
- With a 5% down payment, your PMI premiums only have to insure 6% of your home’s value (down from 30%)
- With a 3% down payment, your PMI premiums only have to insure 8% of your home’s value (down from 35%)
Not sure how much you can afford? Get in touch with your local Mortgage Loan Consultant today.
Options:
- Start an online mortgage application
- First-time homebuyer programs
- Download your Homebuyer's Kit
- No closing cost mortgages
- Fixed-rate loans
- Mortgage refinancing
- Home equity loans and lines of credit
- New construction and renovation loans
- Flexible portfolio mortgage programs
- Conventional and secondary market loans
- Investment property loans
- Condominium loans
- Land loans
- Double- and single-wide mobile home loans
- Government and affordable housing programs
- Insurance and other products
For team members in your area,
select your nearest CBNA location.
Put your home’s equity to work
Home equity loans are a smart way to pay for major home improvements, renovations, and upgrades.
Think you can’t afford to own?
We can help you find an affordable housing program that may put home ownership within reach.