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Solutions
• Fixed rate mortgages – with set monthly principal and interest payments over the life of the loan
• Down payment assistance may be available
• 100% purchase loan program with mortgage insurance
• Refinance options to lower rate and term or take cash out
• FHA and VA loans – with smaller down payment requirements
Home Equity Solutions:
• Borrow for debt consolidation or major expenses with predictable monthly payments
• Competitive fixed rate and payment
• No application fees, no bank fees at closing and no early payoff fees
• Borrow up to 85% of your home’s equity
• Eligible for rate discounts*
• Interest may be tax deductible (consult a tax advisor regarding the deductibility of interest)**
• Low introductory rate for 6 months, then variable rate***
• No application fees, no bank fees at closing and no early payoff fees
• Payments as low as interest only (available on 80% loan-to-value or less)
• Borrow up to 85% of your home’s equity
• Eligible for rate discounts*
• Interest may be tax deductible (consult a tax advisor regarding the deductibility of interest)**
Interested in other banking solutions? We have lots of ways to help! Visit our Neighborhood Banking Resource Center.
Apply Now and choose the right home loan that meets your needsDisclosures
* Rate discount of 0.25% discount requires automatic loan payment from a Commerce Bank checking or saving account. Additional 0.25% rate discount when $5,000 or more of the loan is refinanced from another lender. Additional refinancing option is limited to one discount per loan and is not applicable to Commerce credit card or loan account payoffs. Mortgages and dealer loans are not eligible to receive the discounts. Subject to credit approval.
** Consult a tax advisor regarding the deductibility of interest.
*** Limited time offer. Subject to credit approval. Introductory Annual Percentage Rate (APR) of 2.99% available on new lines of credit only with combined loan-to-value (LTV) ratio (including prior mortgages or liens) of 85% or less. Initial rate is fixed for 6 months following account opening date, and is not based on index and margin used for later rate adjustments. Introductory rate offer not available for refinances of existing Commerce Bank Home Equity Lines of Credit. After the 6-month introductory period, the rate is a variable rate subject to change with the changes in the Prime Rate. Rate offer of 4.25% APR available only on new lines of credit with combined LTV ratio (including prior mortgages or liens) of 80% or less, and reflects the rate discount of 0.25% for automatic payments from a Commerce checking or savings account. The APR may range from Prime Rate plus 1.00% to Prime Rate plus 2.50% depending on LTV and customer relationship. The APR may range from Prime Rate plus 1.00% to Prime Rate plus 2.50% depending on LTV and customer relationship. The Prime Rate used is the U.S. Prime Rate quoted in the “Money Rates” column of The Wall Street Journal on the last business day of the month. As of July 31, 2020, the APR can range from 4.25% to 5.75%. The APR may change monthly, but will not be lower than 3.99% APR, nor exceed 17.65% or 20.04%, depending on LTV. Maximum combined LTV is 85% (including prior mortgages or liens). Interest only option available only on lines of credit with combined LTV ratio (including prior mortgages and liens) of 80% or less. At maturity, entire balance payment is required in a single “balloon payment.” Insurance must be carried on property securing this loan. Missouri, Kansas, Illinois, and Colorado residents incur no fees or closing costs. Oklahoma residents are required to pay state mortgage tax of no more than $.10 per $100 of mortgage filed; no other fees or closing costs apply. Rate discounts cannot be combined with any other offer. Mortgages and dealer loans are not eligible to receive these rate discounts. Refinancing discount is limited to one discount per new loan, and does not apply to Commerce credit card or loan account payoffs.
