FDIC-Insured – Backed by the full faith and credit of the U.S. Government
Looking for a smooth ride through loan-land? A local lender is your best bet. Our lending specialists, they’re real people, just like you. They’ll get to know you, help you pick out the best loan for your needs. And guess what? The whole process is done right here, in your hometown.
Apply for a mortgage
When you choose a home loan from Chesapeake Bank, you’re not just getting a mortgage. You’re getting our People, teams of local lenders, who are as much a part of this area as the Chesapeake Bay itself. They’re on your side, from your very first application to that satisfying final payment. And when it comes to approvals, we keep it human – no cold, unfeeling computers making decisions here. We tailor our loans to fit you, not the other way around.
How to get started?
- Head over to our mortgage center page and fill out your application.
- Our people will give you a call within 24 hours or by the next business day at the latest
- They’ll go over your application with you and talk through all your options.
If you hit a snag, don’t fret. Just give us a ring at 800-434-1181. We’re here from 9 a.m. to 5 p.m., Monday through Friday, ready to help.
Home Loans
First-time Homebuyer Loans
Ever think about buying your first home and don’t know where to start? Well, let me introduce you to our HomeOne℠ Mortgage and Home Possible® Mortgages. These are fixed-rate options that ain’t gonna give you a hard time to qualify. And the best part? You only need a small down payment. And hey, we at Chesapeake Bank handle all that pesky paperwork for ya. You might even get lucky and qualify for some grant money to help with those closing costs and down payments. Not a bad deal, huh?
Fixed-Rate Mortgage
Looking for a little stability in this topsy-turvy world? Lock in your home loan rate with a fixed-rate mortgage from yours truly, Chesapeake Bank. It’s like putting your interest rate in a safe and throwing away the key. Perfect for all you folks feeling a bit anxious about those pesky rising rates. You can choose from a variety of terms and the best part? We keep everything local, just like your fresh crab dinner.
Adjustable-Rate Mortgage
An adjustable-rate mortgage, or as we call it in the trade, a ‘bouncy loan’, starts off steady with a fixed interest rate for a bit. Then, hold onto your hats folks, ’cause it starts jumpin’ around with the market. But don’t worry, we’ve got safety nets in place. There are these things called rate caps that keep your loan from getting too wild. They keep a lid on how much that rate can hop around each time it adjusts, and over the life of your loan. Trust me, it’s a lot less complicated than crabbing.
Jumbo Loans
Sometimes you just need a bit more, right? Especially when you’ve got your eye on that big ol’ house or you’re living where the cost of a decent roof over your head can make your wallet wince. That’s where a jumbo loan might just be your best friend.
Got your sights set on a slice of real estate worth more than a whopping $806,500? Well, our Jumbo Loans are ready to go above and beyond to make that dream home a reality. If you’re interested, just give one of our Chesapeake Bank mortgage loan officers a shout. They’re always ready for a good chat.
Home Construction Loans
Y’all got building dreams dancing in your heads? Well, listen up, ’cause I got a couple of construction loan options that might just make those dreams come true.
We got the Contractor Build loan and the Owner General Build loan. Now, I ain’t gonna lie, building a house is a big ol’ deal, but we’re here to help you every step of the way. Our construction loans are tailored to give you the flexibility you need and the peace of mind you want. They’ll last you about a year, and during that time, you’ll just pay interest on the costs as they pop up.
So, if you’re ready to start swinging that hammer, come on by and chat with one of our mortgage loan officers. We’re always here to help.
Home Equity Loan
Got a house? Got some equity in it? Well, a Home Equity Loan lets you borrow against that, giving you a nice lump sum in your pocket. You pay it back in regular, fixed installments – no surprises. Just like picking crabs, it’s all about knowing what you’re getting into.
Home Equity Lines of Credit
A Home Equity Line of Credit, or HELOC as we call it, is your ticket to borrowing based on your needs, with a flexible interest rate that moves with the tide. Your home secures the deal, and you can use the funds for whatever you fancy, from home improvements to anything else that tickles your fancy. It’s borrowing, but on your terms. Just imagine it like a credit card, only better.
Affordable Home Loan Programs
USDA Loans
USDA loans? Oh, they’re a godsend for folks in rural areas. They’re designed to help those who aren’t exactly swimming in cash to get their hands on a home. Best part? No down payment. Not a dime. USDA’s teamed up with local lenders like us to help good people get a leg up. There might even be some grant money to help with closing costs and that down payment. Neat, huh?
VA Loans
You a veteran or in active duty? Well, bless ya for your service! Ya see, with no money down, our fine servicemen and women, or their surviving spouses, can buy or refinance a home. Got your Certificate of Eligibility from the VA? Great! You can purchase or refinance a home with only a few closing costs and flexible credit criteria. And, get this, there might be some grant money waiting to help with those closing costs and down payments. Ain’t that something?
FHA Advantage Loans
FHA loans? Now, those are as reliable as a good crab boil. Backed by the bigwigs over at the Federal Housing Administration, these loans are about as straightforward as it gets. Low down payments, easy credit qualifying, and even some grant funds to help out with the closing costs and down payment — it’s a deal as sweet as Aunt May’s pecan pie. They’ve been in the game since 1934, helping folks like you and me become proud homeowners. So, if you’re looking for a no-nonsense, fair dinkum loan, an FHA loan might just be your ticket.
Pathway Mortgage
Picture this: you’ve got a dream home in your sights, but the numbers are making your head spin. That’s where our Pathway Mortgage steps in – a real estate loan designed with you in mind. Think lower income, less money down, and lower closing costs. Just right for helping you snatch up your primary residence.
And the best part? The interest rate is fixed for a period of time. No need to worry about private mortgage insurance. And guess what? There might even be grant funds up for grabs to cover those pesky closing costs and down payment. Sound good? We thought you’d like the sound of that.
Land Loans
Land Loans
Looking to plant roots somewhere? Let’s get you started. Whether you’re eyeing a piece of land for your dream home or as an investment, we’ve got adjustable-rate mortgages that’ll fit your plans just right. At Chesapeake Bank, we’re all about turning your land ownership dreams into reality, no fuss. Drop by for a chat with us and let’s get the ball rolling.
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