FDIC-Insured – Backed by the full faith and credit of the U.S. Government
Looking for a smoother loan experience? A local lender is a strong choice. Our lending specialists are real people who take the time to understand your needs and help you select the right loan. And the entire process takes place right here in your community
When you choose a Chesapeake Bank home loan, you’re supported by lending professionals who live and work in the same communities you do. They remain by your side from your first application through your last payment. Every approval is handled by people who take the time to understand your situation, ensuring the loan fits you.
How to get started?
- Visit 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.
Home Loans
First-time Homebuyer Loans
Thinking about buying your first home but unsure where to begin? Our HomeOne℠ and Home Possible® mortgage options are fixed‑rate loans that are easier to qualify for and require only a small down payment. Chesapeake Bank also handles the paperwork to help keep the process simple. You may even be eligible for grant funds to assist with your down payment and closing costs. It’s a strong place to start your path to homeownership.
Fixed-Rate Mortgage
Looking for a steady home loan rate you can rely on? With a fixed‑rate mortgage from Chesapeake Bank, your rate remains the same throughout the life of the loan. It’s a strong choice if you’re concerned about rising interest rates. You can select from several loan terms, and all decisions are made locally.
Adjustable-Rate Mortgage
An adjustable‑rate mortgage (ARM) is a home loan with an interest rate that can change over time. The rate remains fixed for an initial period and then adjusts based on market conditions. To help protect you, rate caps limit how much the rate can increase at each adjustment and over the life of the loan. These safeguards help keep your payments manageable.
Jumbo Loans
When you’re purchasing a larger home or buying in a more expensive market, you may need financing beyond a traditional loan. For amounts over $832,750, our Jumbo Loans provide the flexibility and support needed to make your home purchase possible.
Home Construction Loans
If you’re planning to build a home, we have two construction loan options to help: the Contractor Build loan and the Owner General Build loan. Both are designed to offer flexibility and reassurance during the construction period. The loans typically last for one year, with interest-only payments on the amount disbursed.
Home Equity Loan
Have a home with available equity? A Home Equity Loan allows you to borrow against it and receive a lump sum upfront. You repay the loan in fixed, predictable installments.
Home Equity Lines of Credit
A Home Equity Line of Credit (HELOC) allows you to borrow as you need, using the equity in your home as collateral. The interest rate adjusts over time, and you can use the funds for a range of purposes, from home improvements to other personal expenses. It’s a flexible borrowing option designed to fit your needs.
Affordable Home Loan Programs
USDA Loans
USDA loans are designed for homebuyers in rural areas and can be a strong option for those with limited savings. One major benefit is that no down payment is required. USDA works with local lenders like us to make the home‑buying process more accessible, and in some cases, grant funds may be available to help with closing costs.
VA Loans
Eligible veterans and active‑duty service members can access VA loans for home purchase or refinancing, often without a down‑payment requirement. A Certificate of Eligibility from the VA is needed to apply. These loans provide reduced closing costs, flexible credit standards, and may offer grant funds to help cover certain expenses
FHA Advantage Loans
FHA loans are backed by the government and help make buying a home easier. Low down payments, easy credit qualifying, and even some grant funds to help out with the closing costs and down payment. They’ve been helping people buy homes since 1934. If you want something simple and reliable, an FHA loan could be a great choice.
Pathway Mortgage
If the cost of purchasing a home feels out of reach, the Pathway Mortgage may help. This program offers lower‑income buyers reduced down‑payment and closing‑cost requirements, making it easier to purchase a primary residence.
The mortgage includes a fixed interest rate for a set period, does not require private mortgage insurance, and may offer grant funding to support your upfront costs
Land Loans
Land Loans
Want to buy land for a home or investment? We can help with that. Our adjustable-rate mortgages are made to fit your plans. At Chesapeake Bank, we make land buying simple and easy.
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