CNB Mortgage Loan

CNB Mortgage Loan Review

CNB Mortgage Loan is offered by CNB, a bank founded in 1973 and based in Sevierville, TN. CNB Mortgage Loan is available in 1 state across the USA.

• 4 different mortgage programs offered. CNB Mortgage Loan offers FHA, USDA, VA, conforming, and conventional mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for CNB Mortgage Loan.

What is the maximum loan term you can get with CNB Mortgage Loan?

CNB Mortgage Loan offers mortgages with terms ranging from 5 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.

What mortgage rates does CNB offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

Yes, CNB Mortgage Loan may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, CNB Mortgage Loan offers the following mortgage types:

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.

What property usage types does CNB Mortgage Loan allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. CNB Mortgage Loan allows the following property usage types: 

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