CONVENTIONAL FIXED-RATE MORTGAGES
Any mortgage made without the guarantee of a government agency is classified as a conventional loan. Conventional loans with small down payments are available, though a larger down payment will not require a Private Mortgage Insurer to guarantee the loan. Fixed-rate mortgages have an interest rate that remains constant for the life of the loan. Variable rate mortgages allow the rate to fluctuate up and down with the market.

Tailor your conventional loan to suit your needs: extend the term to get smaller monthly payments; shorten the term to save thousands of dollars in interest expense; or select a term somewhere in between.

ADJUSTABLE RATE MORTGAGES (ARM)
Lock-in (or guarantee) the interest rate at the time of application or wait until closing. Use our "alternative documentation" to speed up the approval process or if you are self-employed, consider a "no-income qualifier" option. Alternative documentation simply means coming in with the following: Paystubs covering the most recent 30 day period, W-2 forms for the previous two years, and statements of whatever account the funds are coming from for the most recent 3 month period. (Note: To use alternative documentation, employment must not have changed in the past two years.) The latter option is for self-employed borrowers who have filed a Schedule C tax form. With this option, credit and collateral are used to underwrite the loan instead of debt ratios. As always, the choice is yours.

1-YEAR ADJUSTABLE RATE MORTGAGE
With an interest rate adjustment every 12 months, the 1-Year Treasury Index ARM is another alternative to our standard fare. Subject to a maximum 2% annual interest rate change, the monthly payment will be adjusted annually.

3/1, 5/1, 7/1, AND 10/1 YEAR ADJUSTABLE RATE MORTGAGES
Would you like your interest rate fixed for 3 years? How about 5, 7, or 10 years? Choose the number of years you would like the interest rate to be fixed. After 3, 5, 7, or 10 years, the interest rate and monthly payment will adjust annually. This combination of a low fixed rate and an annual adjustable rate makes an attractive offer.

ARE YOU RELOCATING?
As a full service financial organization for consumers and businesses, California Bank and Trust Bank can assist you in your relocation to Utah or Idaho. If you need help with banking services, mortgage services, or just want to communicate with someone who knows the area click here and let us know what we can do for you.

BALLOON MORTGAGES
A balloon mortgage combines the low payment of a 30-year loan with the low interest rate of a short-term loan. With a monthly payment based on a 30-year amortization and a loan term of just a few years, a balloon mortgage is perfect for the borrower who does not plan to own the property for an extended period.

GOVERNMENT MORTGAGE LOANS FEDERAL HOUSING ADMINISTRATIONS
FHA, being part of the federal government, guarantees the lender that the loan will be repaid. As part of this guarantee, all FHA loans require a mortgage insurance premium be paid by the borrower. This premium can be added to the loan amount.

FHA offers both adjustable and fixed rate mortgages, with a variety of down payments options and repayment terms. A program where the costs to fix up or improve a home can be combined with the loan amount is also available for a primary residence or an investment property.

VETERANS ADMINISTRATION (VA)
For veterans of military service, the VA will guarantee repayments of the loan to the lender. The VA requires a "Funding Fee" from the borrower to pay for this guarantee. The amount of the funding fee will differ depending upon your veteran status, loan amounts and prior use of VA mortgages. The funding fee can be added to the loan amount. Similar to FHA, fixed and adjustable rate mortgages can be obtained through VA.

GOOD NEIGHBOR LOAN
The Good Neighbor Loan is available to people with low to moderate income. With minimal down payment, generous underwriting ratios and high loan limits, the Good Neighbor loan is perfect for that first-time home buyer who doesn't have a large down payment. A gift or a grant can be used for the down payment.

LOCK AND ROLL
The Lock and Roll is an innovative alternative to the standard interest rate lock. The Lock and Roll option offers a guaranteed interest rate for 60 days, and allows you to roll down the rate if interest rates improve.

ADVANTAGEPLUS
Imagine obtaining a mortgage loan approval before shopping for a home. The advantage would be a guaranteed approval for a specified loan amount, PLUS a better negotiating position with the seller AND faster processing time. Time is spent looking at homes you know are affordable instead of homes you think are affordable.

EXTENDED LOCK-IN PERIODS
Extended interest rate lock-in periods of 90 days, 120 days, 150 days, and 180 days are available to our customers.