How much can you borrow via City National Bank Home Purchase Loans?

City National Bank Home Purchase Loans allows borrowers to apply for loan amounts of up to $1,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with City National Bank Home Purchase Loans?

City National Bank Home Purchase Loans offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Does City National Bank Home Purchase Loans charge prepayment fees?

No, City National Bank Home Purchase Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does City National Bank Home Purchase Loans offer?

City National Bank Home Purchase Loans offers the following mortgage types:

• Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
• FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does City National Bank Home Purchase Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. City National Bank Home Purchase Loans allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects