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Mortgage Services
CIB Financial Services works with various lenders to find out the right loan program to fit your financial needs.
We offer a variety of loans for your purchase or refinance such as:
- 30,20,15,10 Year Fixed
- 3,5,7,10 Year ARMs(Adjustable Rate Mortgage)
- 3,5,7,10 Year Interest Only ARMs
- 100% Financing with No PMI
- Home Equity Product
Here is a copy of the mortgage application. Please fill out and mail or fax it to us.
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What is a Fixed Mortgage?
- A mortgage in which the interest rate and payments remain the same for the life of the loan.
There is a constant payment over the term of the loan.
A fixed payment of the same amount each month allows for the borrower to always know what their payments will be.
What is an ARM?
- This program allows the interest rate to periodically adjust to meet current rates.
There is a certain fixed period and then the interest changed based on market rate.
Generally, ARM rates are lower than traditional fixed rate mortgages.
What is Interest Only Loan?
- An Interest Only loan is a type of ARM which allows a person to only pay the interest portion of a payment.
Like an ARM, the rate is fixed for a certain period of time and then will adjust to market rates.
After the fixed term, the loan will amortize over the remaining period of time left (of typically 30 years).
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