It’s our job to match your financial situation to the best product available providing you with the best use of your money.  There are three common mortgage loan programs offered by CNB: 
The loan programs offered below can be used for a purchase or a refinance.  Calculate your potential  refinance savings here.

Conventional Mortgage Loans

A conventional loan is a traditional loan available to buyers via several loan programs typically requiring at least a 5% down payment, however some programs offer lower down payment requirements.  It is not insured by any government agency.   It is typically fixed in its terms and rate.   These mortgages adhere to Fannie Mae guidelines.  Fannie Mae, or Federal National Mortgage Association, is a corporation created by the federal government that buys and sells conventional mortgages.  It sets the maximum loan amount and requirements for borrowers.


Items needed to apply for a CNB St. Louis Bank mortgage loan.

FHA Loan

An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA).  Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.  The FHA program was created in response to the rash of foreclosures and defaults that happened in the 1930’s to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.  Nowadays, FHA loans are very popular, especially with first-time homebuyers.  The U.S. Government offers the FHA loan program to make home-buying more affordable.  These loans have a lower down payment requirement (3.5%) and generally offer a lower interest rate compared to a conventional loan.


Items needed to apply for a CNB St. Louis Bank mortgage loan.

VA Loan

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA).  The VA loan was designed to offer long-term financing to eligible American Veterans or their surviving spouses (provided they do not remarry).  The advantage of this program is that the veteran can usually secure this loan with a 0% down payment.



Items needed to apply for a CNB St. Louis Bank mortgage loan.

First Time Homebuyer HOPE Loan

Are you interested in buying your first home?  Our experienced home loan specialists can help connect you with the right loan program and guide you through the process.  In some cases, we can connect first-time borrowers with additional resources and community incentives.