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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

Apply online for a fixed-rate mortgage">
  • Start with fixed payments for 5, 7 or 10 years
  • Annual adjustments following initial fixed period
  • Interest rate and monthly payment may change

Apply online for an adjustable-rate mortgage">
  • Minimum loan amount of $647,201*
  • Fixed-rate and adjustable-rate loans available
  • Flat origination fee on any loan amount
* In the Denver metropolitan area minimum loan amount is $684,251 (single family residence) in most counties.

Apply online for a jumbo mortgage">
  • 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 580 FICO® score
  • VA fixed rate mortgage
    • Guaranteed by the Department of Veterans Affairs
    • 100% Financing available
    • Minimum 580 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

Apply online for down payment assistance">

The Neighborhood Connection™ loan programs provide affordable financing options for borrowers in low- and moderate-income census tracts. The programs offer borrowers up to 100% loan-to-value (LTV)1 financing to purchase or refinance7 the existing balance on their mortgage. In addition, the Neighborhood Connection™ Budget Booster™ allows up to 105% combined loan-to-value (LTV)1 financing for consolidating debt, home improvements and repairs.

Neighborhood Connection™ Home Loan2 – to purchase or refinance your home

  • Eligible borrowers receive a $5,000 Neighborhood Connection™ grant toward closing costs and down payment on purchase of primary residence3
  • Satisfactory employment history
  • Program applies only to purchases of primary residences or to refinance7 the balance of your existing mortgage on primary residence
  • Minimum FICO® score above 5804
  • Borrow up to $431,251
  • Home buyer education with select HUD approved agencies required for all borrowers
  • Minimal late payment history acceptable5
  • Fixed-rate product

Neighborhood Connection™ Budget Booster™ Loan2 – for consolidating debt, home improvements and repairs

  • Minimum FICO® score above 5806
  • No bank fees at closing
  • Competitive interest rate, low monthly payments
  • Minimum two tradelines or non-traditional credit
  • Satisfactory employment history
  • Fixed-rate product
  • Minimal late payment history acceptable5
  • Borrow up to $10,0006

Apply online for Neighborhood Connection loan programs">

  1. Combined loan-to-value (LTV) ratio (including prior mortgages or liens).
  2. 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.
  3. Income restrictions apply. Application income must be at or below 80% of FFIEC Median Family Income to be eligible for Neighborhood Connection™ grant.
  4. Minimum credit score of 580 may be eligible for 97% LTV offer. Minimum credit score of 620 may be eligible for 100% LTV offer. Loans subject to credit approval.
  5. 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.
  6. Minimum credit score of 580 may be eligible for 100% LTV offer, with a maximum loan of $5,000. Minimum credit score of 620 may be eligible for 105% LTV offer, with a maximum loan of $10,000. Loans subject to credit approval.
  7. Loan program available for purchase or refinance. Grant applies to purchases only.
  • 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

Apply online for construction loans">
  • Renovation of single-family home only
  • First lien1 and second lien2 loans available
  • Minimum loan amount is $25,000. Maximum loan amount based on “After Renovation”3 loan to value (LTV).
  • No maximum repair amount as long as the renovation costs do not exceed 75% of the After Renovation appraised value of the property3
  • Repairs or improvements must be permanently affixed to the property
  • Can be used on a primary residence or second home
  • Minimum of 660 FICO® credit score

Apply now for a Renovation loan

  1. First lien loans up to $1,000,000 may qualify for 95% After Renovation loan to value (LTV). Loans exceeding $1,000,000 and up to $1,250,000 in value may be eligible for 90% After Renovation LTV. Loans exceeding $1,250,000 and up to $2,000,000 in value may be eligible for 85% After Renovation LTV. Loans subject to credit approval.
  2. Second lien loans up to $2,000,000 in value may qualify for 80% combined loan to value (CLTV – including both first and second lien loans). Loans subject to credit approval.
  3. Appraiser will determine the current value of the property plus the added value of the renovations.
•  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

Apply online for mortgage refinancing">
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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  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 Bank Mortgage does not lend in Maryland.

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