📢 Important Online Banking Update
Our Consumer and Cash Management Online Banking platforms have been combined into a single login experience. One login now gives you access to both platforms in a single, seamless experience. For Cash Managment users click here for more information Business Online & Mobile Banking Upgrade | Bank of Clarke
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✅Thank you for your patience and understanding as we enhance your online banking experience.
Eagle Financial Services, Inc. (EFSI), the parent company of Bank of Clarke, is pleased to share that it has entered into a definitive merger agreement with John Marshall Bancorp, Inc. (JMSB), the parent company of John Marshall Bank. The combination will unite two highly regarded Virginia community banking institutions.
Link to FAQs: https://bit.ly/4hjycDF
Veterans Administration (VA) Loans
We offer VA loans to military borrowers, including active-duty personnel, veterans, reservists, national guard, and their spouses.
- No down payment
- No Private mortgage insurance
- Competitive rates
- Use for an own-occupied primary residence
Community Partners Program
We partner with FHLBank Atlanta to support those who make their living by serving our communities, including police officers, fire fighters, active-duty military personnel and spouses, educators, and health care workers. You can receive up to $10,00 towards a down payment on a home, closing costs, or rehabilitation costs. To be eligible, you must:
- Contribute at least $1,000 towards the purchase of a home
- Occupy the home as a primary residence
- Complete a homebuyer education and financial literacy course
Construction Loan Options
Bank of Clarke offers two convenient options if you are building a home.
One Closing. Benefits include substantial cost savings and a streamlined process.
- During the construction phase, you pay interest-only payments on your loan balance for up to 12 months.
- Once construction is complete, the occupancy permit is issued, and the contractor/builder is paid, we modify the construction loan into a permanent mortgage.
- The permanent mortgage is like any other mortgage: Chose from any of Bank of Clarke’s flexible conventional mortgage options.
Two Closings. If you already have a home and need the money from the sale of your existing home to fund a down payment on new construction, this option may help you meet your goals.
- Your first loan pays for the construction phase of your new home. When you move in, you get a mortgage to pay off the construction debt.
- You pay for two closings and two sets of fees – first on the construction loan and second on the permanent mortgage.
- You can live in your current home while your next home is under construction.
- During the construction phase, you pay interest-only payments on your loan balance for up to 12 months.
- Once construction is complete, the occupancy permit is issued, and the contractor/builder is paid, we modify the construction loan into a permanent mortgage.
- The permanent mortgage is like any other mortgage: Chose from any of Bank of Clarke’s flexible mortgage options.
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