Commercial Bank

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Commercial Bank

301 N. State St.
PO Box 638
Alma, MI 48801
Phone: (989) 463-2185


Commercial Bank Benefits

Free Pre-approvals
Get pre-approved today , so you can shop for your home knowing that you can afford the mortgage.

Home Equity Products
RENOVATION LOAN

A perfect choice for that major remodeling project, the Renovation Loan gives you total flexibility. Borrow the money as you need it, make payments over 15 years, and a FIXED RATE for the life of the loan.

HOME EQUITY TERM LOAN w/ pre-payment fee

* Borrow against of your home's equity
* Low, secure, fixed interest rate.
* Borrow from $10,000 to $300,000, depending on the equity in your home.
* Flexible payment terms of up to 10 years to repay.
* A Pre-Payment Fee of 2% of the original principal balance (minimum $100)
will be charged if the loan is paid off within 2 years of the loan date.

HOME EQUITY TERM LOAN

* Borrow against of your home's equity
* Low, secure, fixed interest rate.
* Borrow from $10,000 to $300,000, depending on the equity in your home.
* Flexible payment terms of up to 10 years to repay.
* No Pre-Payment Fee

Equity Line

The Equity Line is a Home Equity Line of Credit. You may borrow up to 90% of the value of your home minus your current mortgage balance.

Funds are easily accessible with convenient Loan checks. We’ve made the process easy, apply right on line!

Premier Equity Line

The Premier Equity Line is a Home Equity Line of Credit. You may borrow up to 90% of the value of your home minus your current mortgage balance.

The interest rate starts at Wall Street Journal Prime and can go as low as ½% below WSJ Prime for Lines of $100,000 or higher. The rate changes monthly with changes in the Wall Street Journal Prime Rate.

Funds are easily accessible with convenient Loan checks. We’ve made the process easy, apply right on line!

Construction Loans
EZ Construction

The EZ construction loan allows you to LOCK IN a fixed rate before construction starts on your new home. This is a 30 year fixed rate product after a 9 month construction period.

Traditional Construction

The traditional construction loan is a temporary loan covering the construction period only. After the construction period, the loan would be refinanced into one of our permanent mortgage products.

No Down Payment Loans
30 Year Rural Development

A 30 year fixed rate mortgage provides a monthly payment that doesn't change. The fixed rate mortgage is the most popular loan option available today. Like all the loan programs we offer, there is no prepayment penalty - you can make extra payments monthly or pay off the loan early without penalties or fees.

Federal 30 Year Fixed Rate

A Federal VA 30 year fixed rate mortgage allows qualified veterans to purchase a new home with little or no down payment. A 30 year fixed rate provides the security of a monthly payment that won’t change.

FHA 30 Year

A FHA 30 year fixed rate mortgage allows qualified borrowers to purchase a new home with a small down payment. A 30 year fixed rate provides the security of a monthly payment that won’t change


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