Mortgage Loans

Merchants Commercial Bank recognizes that residential properties in the Virgin Islands often represent both a home and a portion of earnings for many residents through their rental properties. MCB is also cognizant that individuals relocating to the Virgin Islands need acquisition financing to buy or build their dream home. Consequently, MCB provides mortgage financing for one (1) to four (4) family owner and non-owner occupied residential properties. MCB provides a full range of residential real estate financing products and services for all stages of real estate acquisition and development. We can structure financing terms appropriate for the stage of property development and/or the financial situation of the borrower. MCB provides financing for all types of residential real estate including:

Land Acquisition

Term loans for land acquisition with maturities of three (3) years and amortizations up to 15 years.

Construction

Interim construction loans for the development of both owner occupied and non-owner occupied residential dwellings. Our interim construction loans are convertible into permanent financing of up to five (5) years with amortizations up to 20 years.

Acquisition or Refinance

Loans to acquire or refinance existing residential properties with amortizations up to 20 years.

Home Equity Lines of Credit

Home equity lines of credit provide a funding source for home repairs, educational expenses, small business pursuits, or other personal needs, with flexible loan terms to fit each borrower’s financial situation.

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