Commercial

Commercial

CMIC offers competitive commercial loan options.

Conventional

Conventional

Available in either a fixed or adjustable rate; this is the most popular loan type for buying a home.


Jumbo Mortgages

Jumbo Mortgages

Available in either a fixed or adjustable rate; this encompasses loans that exceed county loan limits.

High Balance Conventional

High Balance Conventional

Increased loan amounts that uses the benefits of a fixed-rate or ARM conventional loan.


Features

All fixed rate loans have one feature in common: the interest rate will not change for the duration of the mortgage.  Because of this feature that comes with less risk for the consumer, these rates always come with a premium built into the interest rate.  The shorter the duration of the fixed rate loan, the lower the interest rate.

All fixed rate loans contain the following features:

Once an interest rate is locked in and the loan closes, the interest rate will never change.

Whether it is a 30, 20 or 15 year fixed, or any other term in between, the fixed rates follow an amortization schedule that will pay the mortgage note down on that specific schedule.

Any fixed rate loan will allow you to build equity with no uncertainty of where the interest rates will go.  You can consider any fixed rate loan “forced savings.”

Because these interest rates will not change, a fixed rate loan will always allow you to forecast when you will pay off your debt service and budget accordingly for any budget and expenses.