Neighborhood Banking Resource Center
New to banking or need a restart? Our solutions can help.
Money management solutions
Commerce Free Checking – a basic checking account with everything you need to bank when, where and how you want, with no monthly fee.
mySpending Card® – a reloadable prepaid card that helps you stick to a budget. No monthly fee; $5.95 one-time purchase fee.
Online Banking & Mobile Banking – deposit checks, manage cards, transfer money, pay bills and more – 24/7
Alerts – Stay informed with Alerts available by text, push notification or email.
Popmoney – Send and receive money with just an email address.1
Branch services – wire transfers, check cashing, currency exchange and more.
Savings solutions
myRewards Savings – Get paid to save! Make monthly savings deposits for 11 months in a row, and Commerce will reward you by making your 12th month’s deposit up to $50 per account, up to a maximum of $100 per household for all eligible accounts.2
Borrowing solutions
Home Loan Financing
Neighborhood Connection Home Loan3 – Borrowers in low- and moderate-income census tracts can borrow up to 100% loan-to-value (LTV)4 to purchase or refinance the existing balance on their mortgage, depending on credit score.5 Eligible borrowers receive $2500 grant toward closing costs6.
Neighborhood Connection Budget Booster Loan3 - Offers borrowers in low- and moderate-income census tracts up to 105% LTV4 financing for consolidating debt, home improvements and repairs, depending on credit score.7
Neighborhood Connection Home Loan and Budget Booster Loan offer flexible credit guidelines:
- Minimum FICO score above 5805,7
- No late payments on any open accounts in last 12 months
- Satisfactory employment history
Other affordable housing financing options include Zero down payment, FHA Fixed Rate Loan, VA Fixed Rate Loan, USDA Rural Housing Loan and Fannie Mae HomeReady. Ask your Commerce Bank Mortgage Banker for information about these programs.
Down payment assistance may be available to eligible borrowers through Federal Home Loan Bank (FHLB) HomeStart, Neighborhood Connection Grant or Missouri Housing Development Commission (MHDC) for Missouri properties, or Oklahoma Housing Finance Agency (OHFA) Gold for Oklahoma properties
Learn more about Commerce Mortgage solutions
Secured Visa® Credit Card
Helps you establish, strengthen or rebuild credit.
Disclosures:
- Fees may apply, depending on the speed of the transaction.
- To qualify for the annual matching deposit Reward, you must maintain a Commerce Free Checking, CommerceInterest Checking or CommerceRelationship Checking account and make 11 consecutive monthly deposits and 4 or fewer withdrawals per year, per myRewards Savings account. Total matching Reward determined by adding the average monthly deposit during the previous 11 months for each myRewards Savings account, per household, per year, on up to 5 myRewards Savings accounts. Maximum matching Reward $50 per account, maximum total matching Reward $100 per year. Reward credited annually starting in the 12th month after the first deposit. Annual Percentage Yield is 0.02% as of 2/12/20 on all balances. Rate may change after account is opened. Incentive of $10 or greater reported as interest to the IRS. Fees may reduce earnings. Subject to change - can be discontinued at any time.
- Borrowing limited to homes in low- and moderate-income census tracts located in the Kansas City and St. Louis areas. To determine if your property might be eligible, please contact your local Commerce Bank Mortgage Banker.
- Combined loan-to-value (LTV) ratio (including prior mortgages or liens).
- Minimum credit score of 620 may be eligible for 100% LTV offer. Minimum credit score of 580 may be eligible for 97% LTV offer. Loans subject to credit approval.
- Income restrictions apply. Application income must be at or below FFIEC Median Family Income to be eligible for Neighborhood Connection Grant.
- Minimum credit score of 620 may be eligible for 105% LTV offer, with a maximum loan of $10,000. Minimum credit score of 580 may be eligible for 100% LTV offer, with a maximum loan of $5,000. Loans subject to credit approval.
