Neighborhood Banking
Neighborhood Banking Resource Center
Welcome to the Neighborhood Banking Resource Center! We know life’s best moments can come with financial challenges. We’re here to help — whether that’s information, advice or resources to help get you what you need.
At Commerce, we’re committed to the role we play in serving our communities. Our community involvement, inclusion and diversity initiatives, and sustainability efforts are evidence of our commitment to meeting people where they are, learning about their needs and building strong and lasting relationships.
Some ways we help in our communities:
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Advocating for the addition of affordable housing options
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Enabling non-profits to provide needed services
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Helping entrepreneurs start and grow their business
Commerce’s social responsibility.
How can we help you?
Here are a few tools and resources to meet some of the common milestones on your financial journey.
Challenge Accepted.® Managing money.
Learning to manage money is the foundation for all your other financial goals. We’re here to help with budgeting tips and banking solutions that make money management easier for you.
RESOURCES:
Budgeting Basics
Preparing for the Unexpected
SOLUTIONS:
Commerce Free Checking – a no-fee checking account for daily money management
mySpending Card® – a prepaid card to help you avoid overspending
Mobile Banking and Account Alerts – to help you keep track
myRewards Savings – to help build your nest egg
Challenge Accepted.® Improving your credit.
Challenge Accepted.® Safe, affordable housing.
Stable housing supports stable families. Learn about becoming a homeowner.
RESOURCES:
The true cost of home ownership
How to determine the right mortgage for you
Crushing on a house? How to tell if it’s true love
Smart steps for homebuyers
SOLUTIONS:
Neighborhood Connection® Home Loan1 — Borrowers in low- and moderate-income census tracts can borrow up to 100% loan-to-value (LTV)2 to purchase or refinance the existing balance on their mortgage, depending on credit score.3 Eligible borrowers receive $5,000 grant7 toward closing costs and down payment4.
Neighborhood Connection® Home Loan and Neighborhood Connection® Budget Booster® Loan provide flexible credit guidelines:
- Minimum FICO® score above 5803
- Minimal late payment history acceptable5
- Satisfactory employment history
Neighborhood Connection® Budget Booster® Loan1 — Offers borrowers in low- and moderate-income census tracts up to 105% LTV2 financing for consolidating debt, home improvements and repairs, depending on credit score.6
Other affordable housing financing options include zero down payment, FHA Fixed Rate Loan, VA Fixed Rate Loan, USDA Rural Housing Loan and Fannie Mae HomeReady®. Ask your Commerce Bank Mortgage Banker for information about these programs.
Down payment assistance may be available to eligible borrowers through Federal Home Loan Bank (FHLB) Home$tart®, 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
Our Community Home Loan Officers are here to help, too.
In St. Louis:
Amber Adams
Evette Baker
In Kansas City:
Jorge Torres
Porsha Rideaux
Challenge Accepted.® Repairing or remodeling a home you own.
Challenge Accepted.® Start a small business.
Becoming a business owner is possible with the right support. Watch this video series opens in a new window on tips to becoming your own boss.RESOURCES:
The Role of Banks opens in a new window
Banking Terminology opens in a new window
Evaluating Banks opens in a new window
Tools of the Trade opens in a new window
Capital for your Small Business opens in a new window
Applying for a Bank Loan opens in a new window
SOLUTIONS:
Learn more about Small Business Banking.
Challenge Accepted.® Getting connected.
Stop by a branch in your neighborhood or give us a call. We’re friendly and we’re here to help.
We’re proud to support local organizations who support economic empowerment in the communities we serve, including housing.
In the St. Louis area:
- Community Builders Network
- Northside Community Housing
- Prosperity Connection
- Dream Builders 4 Equity
- Habitat for Humanity – St. Louis
- Network for Strong Communities
- The Housing Partnership
- Justine Petersen
- Beyond Housing
- Washington University Live Near Your Work
- St. Louis Regional Financial Empowerment Coalition
Community Development
Our Community Development staff is also a great resource to help you get started.
In Kansas City: Jackie Loya-Torres
As a manager of Community Reinvestment Act (CRA) and Community Development, Jackie Loya-Torres focuses on compliance with the CRA and is responsible for outreach efforts, especially in low- to moderate-income and underrepresented areas. Jackie serves on the Board of Directors of Community Housing of Wyandotte County and Harvesters, The Community Food Network. She is also an appointed member of the Community Development Advisory Council at the Federal Reserve Bank of Kansas City.
In Kansas City: Jureau Bowman
Jureau Bowman, Community Outreach and Banking Officer – Kansas City, focuses on helping Commerce Bank connect with people and community organizations in underserved communities. Through financial education, she helps individuals understand how they can become more financially stable, start building credit, and establish a healthy financial future. Jureau serves and supports several boards in the Kansas City metro area.
In St. Louis: Crystal Avery-Morris
Crystal Avery-Morris serves as Community Development Officer for the St. Louis market. She is responsible for outreach efforts and for many community development initiatives, especially in low- to moderate-income and underrepresented areas within the St. Louis area. Crystal serves on several boards including the Haven of Grace, DeSales Career Development Center and Emerson YMCA.
In St. Louis: Oluwaseun Gbadebo
Oluwaseun (Olu) Gbadebo serves as Community Outreach and Banking Officer – St. Louis, where she provides financial education training, and helps Commerce Bank connect with people and community organizations in underserved communities, by sharing strategies designed to help individuals establish strong financial habits. As a former medical doctor from Nigeria, Olu has founded two non-profit organizations with St. Louis and international ties and works with many community organizations throughout the St. Louis metro area.
If your organization is interested in learning more about our community development or financial education work in the Kansas City or St. Louis area, please contact us and describe the nature of your request.
- Borrowing limited to homes in low- and moderate-income census tracts located in the Denver, Houston, Kansas City, St. Louis, Tulsa and Wichita 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 80% of FFIEC Median Family Income to be eligible for Neighborhood Connection® grant.
- Not eligible if during the last 12 months you have had more than two 30-day late payments on non-housing related credit. May not have any late payments on rent or mortgage in last 12 months.
- 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.
- Loan program available for purchase or refinance. Grant applies to purchases only.
