City National Bank - Home Mortgage in West Virginia

City National Bank

City National Bank
300 West Main St
Clarksburg, WV 26301
Phone: 304-624-0181
Fax: 304-624-0186

City National Bank, headquartered in Charleston, West Virginia, is a $2.6 billion bank that serves retail and commercial customers throughout West Virginia, Kentucky and Ohio. City’s product menu includes checking and savings accounts, personal and commercial loans, mortgages, lines of credit and Internet banking.

City National Bank offers an exceptionally strong free checking account, as well as innovative checking options designed for particular customers. Best Free Checking offers free checks, free non-City ATM transactions, a free Gold Debit MasterCard and much more.

Customers interested in add-on bonus benefits may select City Gold and Heritage Gold checking accounts. For a minimal fee, customers receive travel, hotel and recreation discounts, accidental death insurance, identity theft protection, as well as other local services discounts.

Loans
Home Equity
Consolidate your loans and save money with our home equity line.

No first year annual fee.
No closing costs.
Same day approval.
Interest may be tax deductible.*
Pay off other existing lines of credit.
*Rates are based on predetermined margins at or above the prime rate as published in The Wall Street Journal and may vary monthly. As of 6/23/08, the Annual Percentage Rate (APR) ranged from 4.75% to 7.00%. Maximum APR is 18%. $50 annual fee waived for the first year. Early payoff fee equal to 1% of the credit balance of the credit agreement or $250, whichever is less, if closed within 12 months of opening. Property insurance may be required. Manufactured homes do not qualify. Please consult your tax advisor regarding deductibility of interest.

Mortgages
At City National Bank, we understand that the home buying process is filled with a lot of ups and downs and confusing procedures. Our local bankers can help identify the best loan to meet your financing needs and will work hard to simplify the entire loan process. Our goal is to get you in your new home as quickly as possible. As you are shopping for a new home or considering building, talk to one of our loan officers to determine what your budget should be ahead of time. Take a look at the various mortgage options available at City National Bank.

City's Loan or Mortgage Products:

Adjustable Rate Mortgage (A.R.M.)
This loan starts with a competitively low interest rate that can rise or fall periodically to reflect changing market conditions. Interest rate and payment adjustments are made after the initial term and are based on a published index such as the one-year Treasury index. Most plans limit the degree of change that can take place at any one time. Consider an adjustable-rate mortgage if:

You want to afford more house than a fixed rate allows;
You expect steady or declining interest rates;
You are likely to change locations within the next four years; OR
You are in a "growing family" stage with a favorable income trend.
Conventional Fixed Rate
The interest rate and monthly payment (principal and interest) are established when the loan is made and remain constant over the life of the loan. Your down payment can be less than 5% of the sales price on some loans, although down payments of less than 20% require private mortgage insurance. Consider a fixed-rate loan if:

You want the security of a steady payment;
You expect interest rates to go up;
Your income will stay about the same;
Your priority is to build up equity; OR
You plan to occupy the home 8 years or more.
Construction Mortgage
A construction mortgage finances the construction of a home and converts to permanent financing when the home is completed. It allows the buyer to deal with only one lender, file only one credit application and pay only one set of closing costs. As construction progresses, the buyer can access the cash necessary to pay construction costs and is billed for interest only each month. Then at completion, permanent mortgage payments begin.

Special Mortgage
Special Mortgage financing is also available through the West Virginia Housing Development Fund. This agency offers long-term, fixed-rate mortgage financing with significant advantages for qualified borrowers. Family income and purchase price limits generally apply.

West Virginia Housing provides financing with low down payment requirements for the purchase of new and existing homes. Private mortgage insurance is required if the down payment is less than 20%.

Factors to consider in Mortgage Selection:

Types of financing (conventional, VA)
Types of loans (fixed, ARM)
Maximum loan amount
Down payment required
Annual percentage rate
Term
Closing costs
Application fee
Origination fee (points)
Private mortgage insurance requirements
Turnaround time for approval and closing
Plans for future servicing
Prepayment penalty
Loan assumption
For adjustable rate mortgage: adjustment interval, initial rate index, margin, and caps
Please also see our Mortgage Section for more information.

Personal
Whatever your personal loan need, City National Bank is here to lend a hand. Our team of local bankers can show you how a personal loan at City can solve your financial needs without straining your checkbook. Use the money for any need, including:

A child's education
Debt consolidation
Luxury items
Vacations
Auto
Let the loan professionals at City National Bank pre-approve your auto loan before you step onto the car lot. We can help you pre-determine what your budget should be and make the entire loan process much easier.

Installment
Other Installment Loans

Lines of Credit
Recreational
Construction
Unsecured