Mortgage Loan Types

From a traditional fixed-rate mortgage to home loan programs supported by the FHA, VA and USDA, we have a solution to fit your lending needs.1

  • Fixed interest rate and monthly principal and interest payments that never change
  • Various term lengths available
  • Shorter term lengths help to save on interest; longer term lengths provide lower monthly payments
  • Start with fixed payments for 5, 7 or 10 years
  • Annual adjustments following initial fixed period
  • Interest rate and monthly payment may change
  • Minimum loan amount of $484,351*
  • Fixed-rate and adjustable-rate loans available
  • Flat origination fee on any loan amount
* In the Denver metropolitan area minimum loan amount is $561,201 (single family residence) in most counties.
  • Zero Down Payment Home Loan
    • Get 100% financing for your home purchase
    • Retain liquid assets and increase purchasing power
    • Build equity faster than traditional 30-year mortgage term
  • FHA fixed rate mortgage
    • Insured by the Federal Housing Administration
    • As low as 3.5% down payment
    • Fixed monthly principal and interest payment; various terms available
    • Minimum 620 FICO score
  • VA fixed rate mortgage
    • Guaranteed by the Department of Veterans Affairs
    • 100% Financing available
    • Minimum 620 FICO score
    • Fixed monthly principal and interest payments; various terms available
    • Exclusively for servicemembers and veterans
  • USDA loan
    • Guaranteed by the U.S. Department of Agriculture, if eligible*
    • Get up to 100% financing
    • Minimum 640 FICO score
* Borrowers are subject to eligibility requirements, which include income, property, credit and location.

  • Other assistance programs
    • Options available for down payment and closing costs assistance
    • Can be utilized with either conventional or government loan programs
  • Simplify building your new home under one mortgage team
  • Borrow up to $2 million for land, labor and materials
  • Interest only payments during construction period
  • Max Cash Refinancing
    • Get up to 95% loan-to-value (LTV) for your home purchase
    • Access more of your home equity at higher LTV limits
    • Lower monthly payments through longer terms at fixed rates
    • Adjustable rate mortgages available

  • Rate/Term Refinancing
    • Switch from an adjustable-rate loan to a fixed-rate loan
    • Pay less interest with a shorter term
    • Convert your FHA loan to a conventional loan
No matter which option you choose, our friendly and knowledgeable team is here to guide you every step of the way, so you can make the right decision for you.
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Disclosure

  1. Commerce Bank Mortgage supports the markets and communities within our geographic regions and reserves the right to limit the geographic area in which loans will be made. Commerce lends in Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, Oklahoma, Tennessee, and Texas.

  2. To send an email that contains confidential information, please visit the Secure Message Center where there are additional instructions about whether to use Secure Email or Online Banking messaging.