Mortgage Information

Community Bank

   If you're like most of us, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

   There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.

   Some examples of currently available loans are low-down-payment, no-down-payment mortages, jumbo loans (more than $455,000), interest-only mortgages, 15-year and 30-year mortgages, VA and FHA loans, first-time home-owner loans, and a plethora of other choices.

   I would be happy to refer you to some of my trusted mortgage contacts I have throughout Downeast Maine, or to help you in any other way I can to secure the best possible rate for your home purchase. Please click here to request a list of some of our hardworking loan officers and mortgage lenders.

   We heartily recommend enhancing your negotiating strength by obtaining a pre-approval letter. It can carry a lot of weight with sellers and help you win your bid!

   Thank you.




   For some additional perspective on your financial situation as it pertains to your real estate purchase, please use the mortgage calculators below to assist you in making some decisions around financing your new home.


Mortgage Qualification Calculator

Mortgage Calculator Full Size   This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.


Mortgage Payment Calculator & Amortization Table

Loan Amortization Table   This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. You'll even get an amortization table shows what the interest and principal payments will be over the term of the mortgage.


   If there's any additional assistance I can offer you regarding your financial strength and your ability to purchase the home of your dreams, or about the overall process of getting a great loan, please let me know!


   Laura Pellerano