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Loan Programs

The following is a partial list of programs offered by CBC Mortgage Agency with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 866-563-3507.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Conventional Loans

A popular loan type, conventional fixed rate loans feature a constant interest rate for the life of the life. Generally speaking, monthly payments remain constant. Traditionally borrowers are expected to provide a 20 percent down payment though this is not necessarily required. Contact us for details on down payment requirements. Available terms generally range from 10 years, 15 years, 30 years and 40 years.

FHA Loans

FHA loans are private loans insured by the federal government. These loans are popular with borrowers who don't have enough funds to pay a traditional 20 percent down payment because they only require 3 percent down to qualify. Those who choose these loans are required to pay mortgage insurance which slightly increases their monthly payments. Lenders who wish to offer these loans must be approved by the Department of Housing and Urban Development. Please contact us today to find out if a FHA loan is right for you.

VA Loans

Like a FHA loan, VA loans are private loans insured by the federal government. VA loans are only available to qualified military veterans and their families. These loans are only available to these individuals for their own primary residences and cannot exceed a $417,000 loan limit. For information on qualifying for this loan program please give us a call today.

USDA Loans

A USDA Loan is a mortgage loan that is insured by the US Department of Agriculture and available to qualified individuals who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA.

Reverse Mortgage Loans

Reverse mortgage loans, also known as reverse equity loans, are only available to homeowners 65 or older. Like its name indicates, this program pays the homeowner either a one-time large payout or monthly installment. Once the loan term expires the house either becomes the property of the lender or the house can be sold to repay the debt. Reverse mortgage loans are great options for seniors looking to increase their monthly incomes. Contact us for more details.

Refinance Loans

Homeowners looking to decrease their interest rate may consider refinancing. A refinance calls for the homeowner to obtain another mortgage loan. Those funds are then used to pay off the original mortgage loan and the homeowner is then bound by the terms of the new mortgage. Depending on your situation a refinance loan could be a great option. Along with decreasing your interest rate, refinance loans can also help you switch from an ARM to a FRM, and in some cases reduce your loan term.

HARP 2.0 Loans

Finally, there is help for homeowners that are underwater on their mortgages! Follow the link to see if you are eligible to do a HARP 2.0 loan with CBC Mortgage Agency.

Commercial Loans

Whether you’re a new entrepreneur or a seasoned professional, smart business owners know that growth brings tremendous opportunities for profit. Your commercial property is an important aspect of growth. At Omni Lending LLC we’re committed to helping you get into the right commercial property for your company.

Rehabilitation/Fixer Upper Loans

What is a 203K Loan? The FHA 203K Rehab loan is a cost-effective loan which allows a buyer to finance necessary repairs and or desired home improvements while utilizing a 3.5% down payment FHA loan. It allows a single loan to facilitate a purchase or refinance along with financing renovations. It’s the perfect program for a property that needs a little work and the buyer doesn’t have the cash to pay for improvements.