Mortgage

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Mortgage Application CheckList


Some things you need to gather before you apply:


  • Your Social Security Number
  • Current pay stubs, W2s and tax returns for the past 2 years (personal & business)
  • Bank & Investment account statements for the past 2 months (all pages)
  • Life insurance value
  • Retirement account statements for the last 2 months (all pages)
  • Make & model of vehicles you own and their resale value
  • Credit card account information
  • Auto loan account information
  • Personal loan account information
  • Copy of driver's license

You will also need the following if you currently own Real Estate:


  • Mortgage/Home Equity account information
  • Home Owners Insurance policy information

Your Mortgage Leader


At Community First Bank & Trust, we understand your home may be your biggest investment, that's why it is important to us to help you every step of the way. Community First Bank &Trust has a mortgage team with decades of experience. We provide the best in service and quality products to fit your needs.

 

Let us help you with your new home purchase. We have lenders who are ready to help you with your financing needs.  Please submit your question via our "Contact Us" form link located at the top right of our website.  We look forward to working with you.

Mortgage Product Choice Information


Community First Bank & Trust (CFBK) offers two basic types of mortgage products: Mortgage Loans extended by our Bank and Mortgage Loans originated by our Bank and sold to an investor. To best determine which product is right for you, ask yourself the following questions:

  • How much do you need to borrow?
  • How long do you want to borrow?
  • Are you interested in refinancing your loan in a few years?
  • Are you interested in a temporary "bridge" loan?
  • How much will your down payment be?
  • What kind of repayment plan do you desire?
  • What types of up-front costs are you willing to pay?
  • Are you interested in having your property taxes, insurance premiums and other costs escrowed?


Your CFBK representative will help you consider these questions in deciding which product(s) you qualify for and which one best suits your needs. If you qualify for both products, you should compare the following features of each product to help decide which one best meets your needs:

Mortgage Loans


  • No Minimum Amount
  • Flexible Loan to Value Limits and Equity Requirements
  • Payments Serviced by CFBK
  • Origination Fee Not to Exceed 1% of Loan Amount
  • Other Closing Costs (Attorney, Appraisal, Title, Recording Fees, etc)
  • Private Mortgage Insurance (PMI) could apply
  • Escrow of Hazard Insurance Premiums, Taxes, Flood Insurance Premiums

Mortgage Loans Sold To Investors


  • $50,000 Minimum Amount
  • Flexible Loan to Value Limits and Equity Requirements
  • Approved by, Sold to and Serviced by a Long-Term Lender
  • Origination Fee Not to Exceed 1% of Loan Amount
  • $995 Administration Fee
  • Other Closing Costs (Attorney, Appraisal, Title, Recording Fees, etc.)
  • Various PMI Options Including Borrower-Paid, Lender Paid, and No PMI
  • Escrow of Hazard Insurance Premiums, PMI, Taxes, Flood Insurance Premium
  • Optional Rate Buy-downs with Discount Points
CFBK offers both products to all qualified applicants without regard for race, color, religion, sex, national origin, age, marital status, familial status, receipt of public assistance or exercise of consumer rights.