Rural Housing Program (Purchase and Refinance)
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Gives qualifying borrowers the ability to purchase a home with zero downpayment.
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30 year fixed rate loan
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maximum 29% Housing Ratio and 41% Total Debt Ratios;
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escrows are required; income and property location restrictions.
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Servicing Released
The Rural Housing Refinance program is available for borrowers who currently have an RD loan and are looking to lower the interest rate by at least 1 percent.
Federal VA Program
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Offers Veterans a 30 Year fixed rate a purchase of a home through the US Dept of Veterans Affairs.
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1-4 unit family homes – borrower must occupy 1 unit.
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No Mortgage Insurance required; escrows required.
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Community Bank must be approved with the US Dept of Veterans Affairs.
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Community Bank is responsible for processing and closing document preparation.
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Bankers’ Bank will provide initial and final underwriting. Servicing released
Agency Programs. 10, 15, 20, 30 year fixed rates. 30, 45 & 60 day lock period.
Best Effort and Mandatory Delivery available. Servicing retained by Bankers' Bank.
Private Programs. 15, 20, 30 years fixed rates. 15, 30, 45 & 60 day lock periods.
Best Efforts and Mandatory Delivery available. Servicing released.
Manufactured Homes. 15, 20, or 30 year fixed rate terms only – Agency Program only
Multi-width; owner occupied; Classified as real property built after 6/15/76. Must have HUD data plate.
Jumbo loans. Loan amount exceeds the FNMA max allowable loan amount. 15 or 30-year fixed terms. Purchase and Rate Term refinances. Loan will be underwritten and serviced by private investor.
ARM. 3/1 ARM, 5/1 ARM and 7/1 ARM. Each program has specific program requirements for Margin, Caps, and LTV. Disclosures available on BB website. Serviced released.
WHEDA Program-Wisconsin only
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30 year loan with 41% Total Debt Ratios;
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programs with and without mortgage insurance requirement;
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escrows are required. Income and Purchase limits apply.
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Qualifying borrowers can also obtain WHEDA Easy Close Second mortgage
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Serviced by WHEDA.
Approved Property Types
1-4 unit Owner Occupied and Investment properties
Single Family, Second Home, Manufactured, Condominium, Planned Unit Developments (PUDs)
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