CBM Choice Loan Programs

At CBM Mortgage, we understand that your financial needs may not always fit into the standard mortgage offerings. That’s why we’re excited to introduce CBM Choice, a suite of specialty loan programs designed for unique circumstances. Whether you’re looking to purchase, refinance, or embark on new construction, we have the ideal solution for you.

CBM Choice — Your Versatile Financing Solution

CBM Choice offers a range of options to cater to a variety of real estate financing needs. Let’s explore the key features of these versatile programs:

  • Purchase or Refinance: Whether you’re ready to purchase your dream home or refinance your existing property, CBM Choice has you covered.
  • Primary and Second Homes: CBM Choice is available for both primary and second homes, with a maximum Loan to Value (LTV) of 85%. This program is ideal for those looking to invest in additional properties or secure a second home.
  • Investment Properties: If you’re considering investment properties, CBM Choice offers a maximum LTV of 80%, ensuring you have the financial flexibility to explore real estate investments.
  • Minimum Credit Score 650: We understand that financial circumstances can vary. CBM Choice accommodates individuals with a minimum credit score of 650, offering opportunities to those with diverse credit profiles.

No Private Mortgage Insurance (PMI): CBM Choice eliminates the need for private mortgage insurance (PMI), further reducing your financial obligations.

CBM Choice 100 — Maximum Financing for Your Primary Residence

CBM Choice 100 is tailored for those looking to purchase their primary residence with maximum financing.

This program offers:

  • Purchase Only: CBM Choice 100 is designed exclusively for homebuyers looking to purchase their primary residence, ensuring a focused approach to homeownership.
  • Max Loan to Value (LTV) 100%: With CBM Choice 100, you can secure financing for your primary residence with a maximum LTV of 100%, making it an attractive choice for those looking to maximize their purchasing power.
  • Minimum Credit Score 700: To qualify for CBM Choice 100, a minimum credit score of 700 is required, reflecting a strong commitment to financial responsibility.
  • Monthly Credit Enhancement Mortgage Insurance Fee: This fee enhances your credit profile, potentially resulting in long-term financial benefits.

CBM Choice Construction — Building Dreams from the Ground Up

CBM Choice Construction is the ideal solution for those looking to embark on new construction projects.

This program offers:

  • Primary and Second Homes: Whether you’re building your primary residence or a second home, CBM Choice Construction provides financing options to support your construction goals.
  • Loan to Value (LTV) 80%: CBM Choice Construction offers a maximum LTV of 80% based on the initial construction cost plus a 10% overrun allowance.
  • Minimum Credit Score 650: A minimum credit score of 650 is required, ensuring a broad range of individuals can access financing for their construction projects.
  • Class A Contractor Required: To qualify for CBM Choice Construction, a Class A Contractor is required, ensuring that your project is in capable hands.
  • Ratified Construction Contract: Detailed plans, specifications, and cost estimates are required to ensure transparency and sound financial planning.

CBM Choice Link — Bridging Your Property Goals

CBM Choice Link is your bridge loan solution, ideal for those looking to purchase or refinance a new property while maintaining their current residence.

This program offers:

  • Purchase/Refinance Combo: CBM Choice Link accommodates both purchase and refinance needs, making it a comprehensive solution for your real estate ambitions.
  • Primary Residence Only: This program is tailored for your primary residence, ensuring a smooth transition between properties.
  • Max Loan to Value (LTV) 80%: CBM Choice Link offers a maximum LTV of 80%, encompassing your current property and the property being purchased.
  • Minimum Credit Score 650: With a minimum credit score of 650, CBM Choice Link provides opportunities for individuals with diverse credit profiles.
  • No Private Mortgage Insurance (PMI): CBM Choice Link eliminates the need for PMI, further reducing your financial obligations.

CBM Choice Renovation — Transforming Properties with Ease

CBM Choice Renovation is the ultimate solution for those looking to renovate their properties.

This program offers:

  • Single Family or 1-4 Family Owned/Occupied: CBM Choice Renovation caters to a range of property types, including single-family homes and 1-4 family units.
  • Minimum Credit Score 650: With a minimum credit score of 650, this program accommodates individuals with varying credit profiles.
  • Minimum of $20,000 – $30,000 or More Needed for Renovations: CBM Choice Renovation ensures that you have the resources needed to undertake significant property transformations.
  • 85% Loan to Value (LTV) on “As Is” Price: This program provides an LTV of 85% based on the property’s “as is” price.
  • 80% Loan to Value (LTV) Max on “When Completed” Appraisal After Renovations: After renovations, you can benefit from an 80% Loan to Value (LTV) based on the appraisal of the property after improvements. This provides you with a competitive financing solution for your renovation projects.

Choose CBM Choice for Your Unique Financing Needs

CBM Mortgage understands that not all financial situations fit within the standard mortgage offerings. That’s why we’ve carefully designed the CBM Choice suite of programs to provide flexible, tailored solutions for unique circumstances. Whether you’re looking to purchase, refinance, construct, or renovate, we’re here to help you achieve your real estate goals.

discover the right financing program for your unique needs

Please contact a CBM Mortgage representative today to embark on your journey toward achieving your financial dreams with one of our specialized loan programs or apply online: