Home Loans
CBC Home Loans

NOTICE: Our Real Estate application process is undergoing maintenance and is currently down. Please call our Real Estate team at 805.988.2151 ext.1648 if you have any questions in the meantime. We apologize for any inconvenience this may cause.

Purchasing a home is one of the biggest investment decisions you will ever make. You can trust CBC for professional guidance and efficient processing to make your experience easier. We offer loan options specific to your needs:


Rates Effective March, 21 2020

  • Fixed Rate Mortgages

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    Whether you’re looking to buy a home or refinance, we have you covered.

    • Your interest rate and payment amount will remain the same during the life of your loan
    • No pre-payment penalties
    • Ideal for the homeowner who plans to stay in the home for at least seven years
    • 10 to 30-year terms available
    • Builds equity faster

    Fixed-Rate Mortgage - Conforming (up to $510,400)1,2

    Product

    Rate
    (as low as)

    		 Discount
    Points    		 APR
    (as low as)

    Payment Per
    $1,000
    10 Year 2.990% 0 3.0850 $9.65
    15 Year 2.990% 0 3.0485 $6.90
    20 Year 3.125% 0 3.1704 $5.61
    30 Year 3.250% 0 3.2824 $4.35

    Fixed Rate Mortgage - Non-Owner Occupied4

    Product

    Rate
    (as low as)

    		 Discount
    Points    		 APR
    (as low as)

    Payment Per
    $1,000
    30 Due in 15 4.500 0 4.5366 $5.07


    Fixed Rate Mortgage - High Balance (up to $713,000)2

    Product

    Rate
    (as low as)

    		 Discount
    Points    		 APR
    (as low as)

    Payment Per
    $1,000
    15 Year 3.125% 0 3.1669 $6.97
    30 Year 3.125% 0 3.1481 $4.28

    Fixed Rate Mortgage - Jumbo (up to $2,000,000)

    Product

    Rate
    (as low as)

    		 Discount
    Points    		 APR
    (as low as)

    Payment Per
    $1,000
    20 Year 3.125% 0 3.1367 $5.61
    30 Year 3.125% 0 3.1333 $4.28

    Home Equity Loans - Fixed Rate 2nd3

    Product

    Rate
    (as low as)

    		 Discount
    Points    		 APR
    (as low as)

    Payment Per
    $1,000
    15 Year 5.000% 0 5.6517 $7.91
    20 Year 5.250% 0 5.7689 $6.74

    1 FIXED RATE rates and APRs based on an owner-occupied, single-family home, a loan amount of $510,400 (conforming) or $713,000 (high balance), a maximum LTV of 97% on purchases and 95% on refinances, a credit score above 640, 1.000 points paid and approximate pre-paid finance charges of $2,092. A ‘zero’ point option is available.

    2 For FIXED RATE non-owner-occupied property, add 1.000% to interest rate and add 0.500 to points. Not all products are available for non-owner-occupied properties.

    3 Rates and APRs based on an owner-occupied, single-family home, a loan amount of $50,000, a maximum LTV of 80%, credit score above 640 and approximate pre-paid finance charges of $100. Call for non-owner-occupied rates and fees.

    4 Rate an APR based on conforming loan amount and 70% LTV. Call for higher LTV's.

    Rates are subject to change without notice. These mortgage rates apply only with certain conditions. Your rate depends on several factors including market conditions, property type, loan purpose, credit score and loan-to-value. The displayed annual percentage rates (APRs) include total points and prepaid finance charges but do not include other closing costs. Loans over 80% LTV require private mortgage insurance.

    Rates are not automatically locked in at time of application. Loan rate locks can be requested in writing after your loan has been pre-approved by CBC FCU. Other restrictions may apply. Call for details.

  • Adjustable Rate Mortgages (ARM)

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    • Lower initial monthly payments
    • Perfect for those who will be in their homes for a limited time and want flexible mortgage options
    • Good choice for those expecting solid growth in household income
    • Offer low rates that only adjust after the initial five or seven years of the loan
    • 5/1 and 7/1 ARMs at our lowest rates
    • 5/1 ARM — No closing cost option available
    • Conforming, High Balance and Jumbo loans available

    Conforming/No Closing Costs 5/1 ARM (up to $510,400)

    Product Rate APR Points Margin Index Caps Est Payment Per
    $1,000
    5/1 2.875% 2.9866% 0 2.25% 0.7900% 5/2/5 $4.15
    7/1 3.125% 3.0896% 0 2.25% 0.7900% 5/2/5 $4.28

    High Balance/No Closing Costs 5/1 ARM (up to $713,000)

    Product Rate APR Points Margin Index Caps Est Payment Per
    $1,000
    5/1 3.000% 3.0228% 0 2.25% 0.7900% 5/2/5 $4.22
    7/1 3.250% 3.1383% 0 2.25% 0.7900% 5/2/5 $4.35

    Jumbo (up to $4,000,000)

    Product Rate APR Points Margin Index Caps Est Payment Per
    $1,000
    5/1 3.125% 3.0473% 0 2.25% 0.7900% 5/2/5 $4.28
    7/1 3.375% 3.1772% 0 2.25% 0.7900% 5/2/5 $4.42

    Conforming (up to $510,400)2

    Product Rate APR Points Margin Index Caps Est Payment Per
    $1,000
    5/5 3.125% 3.3199% 0 2.75% 0.6200% 5/2/5 $4.28

    Jumbo (up to $2,000,000)

    Product Rate APR Points Margin Index Caps Est Payment Per
    $1,000
    5/5 3.250% 3.3394% 0 2.75% 0.6200% 5/2/5 $4.35


    Estimated payment examples do not include property tax, insurance, or HOA fees, so your actual payment will be higher. Rates are not automatically locked in at time of application. Loan rate locks can be requested in writing after your loan has been pre-approved by CBC FCU. Other restrictions may apply. Call for details.

    1 LIBOR Adjustable Rate Mortgage (ARM): The estimated payment is based on an owner-occupied 30 year, 5 or 7 year ARM at 80% loan-to-value (LTV). After the initial 5 years, the rate may adjust annually by no more than 5%. The maximum lifetime adjustment is 5%. Maximum 95% LTV on conforming and high balance purchases and 95% LTV on refinances. No Closing Cost offer is available for purchases and external refinances on the 5/1 ARM excluding Jumbo 5/1 ARM. For more information click here.

    2 CMT Adjustable Rate Mortgage (ARM): The estimated payment is based on an owner-occupied 30 year, 5 year ARM at 80% LTV. After the initial 5 years, the rate may adjust every 5 years by no more than 5%. • The maximum lifetime cap is 5%. Maximum 95% LTV on conforming and high balance purchases and 95% LTV on refinances.

    Call for non-owner-occupied rates and fees.

  • Home Equity Line of Credit

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    Home Equity Line of Credit3

    What can you do with your home’s equity...? Anything you want! Pay off high rate debt, remodel your home, take a vacation or pay for a wedding, whatever you need! Take the equity you’ve built up in your home and put it to use.

    • NO Closing Costs
    • NO Hidden Fees
    • Lowest Rates in Town
    2.99% 12 Month Intro Rate! Rate APR* Payment Per
    $1,000
    CLTV < 70% Prime + 0 0 pts 4.00% 4.00% $7.40
    CLTV 70.01%-80% Prime + .50 0 pts 4.00% 4.00% $7.40
    CLTV 80.01%-90% Prime + 1.50 0 pts 4.75% 4.75% $7.78

    Home Equity Line of Credit (Non-Owner Occupied)

      Rate APR* Payment Per
    $1,000
    CLTV 0%-70% Prime + 1.00 0pts 4.25% 4.25% $7.52

     

     

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    3 Home Equity Line of Credit (HELOC): The Prime Rate as of Feb 29th 2020 was 4.75%.

    • This is a variable rate loan with a floor of 4% and a cap of 14%
    • Rates quoted are for owner-occupied single family homes
    • No Closing Cost, but a $500 Early Closure Reimbursement fee is in effect for 36 months to reimburse the credit union if the HELOC is closed.

    Call for non-owner occupied rates and fees.

     

  • Fresh Start

    CBC designed this loan to get a previous homeowner back into homeownership. Today, there are all kinds of reasons why a good borrower had a bad outcome. The Fresh Start Mortgage Loan gets them back to where they belong… In a home. Call our Real Estate Department at 805-988-2151 for complete details.