Community First National Bank Reverse Mortgage Reviews

Community First National Bank (CFNB), NMLS ID 449196, was established in 2001 and is locally owned and operated in Kansas. Its Reverse Solutions division offers FHA-insured reverse mortgages to eligible homeowners across the U.S. Licensed mortgage professionals guide applicants through the home equity conversion mortgage (HECM) process using a consultative approach.

Unlike many competitors, CFNB doesn’t offer an online application or mobile document upload for its reverse mortgages. Instead, you can stop by your local branch, call 888-422-8789 or mail in your application. You can also submit a form on CFNB’s main website or the Reverse Solutions “learn more” page to request an application via email or more information from a loan officer.

CFNB offers a secure messaging portal you can access with your Google or Microsoft account if you need to submit personal or financial information.

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CFNB Reverse Mortgage application features

Reverse mortgage disbursement options

Once you qualify for a reverse mortgage, you’ll choose how to receive your loan proceeds. CFNB Reverse Solutions offers several payout plans depending on whether you select a fixed or adjustable interest rate.

For adjustable-rate reverse mortgages, you can choose:

• Tenure: Equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence
• Term: Equal monthly payments for a fixed number of months
• Line of credit: Unscheduled payments or installments, at times and in amounts of your choosing until the line of credit is exhausted
• Modified tenure: Combination of a line of credit and scheduled monthly payments for as long as you remain in the home
• Modified term: Combination of a line of credit plus monthly payments for a fixed number of months

For fixed-rate reverse mortgages:

• Single disbursement lump sum: Paid out at closing

» LEARN MORE: Reverse mortgages vs. home equity loans and HELOCs

CFNB doesn’t publish its reverse mortgage rates publicly. While its Reverse Solutions loan officers may discuss rate options during the application process, no specific APRs, interest ranges or rate tables are listed on CFNB’s website or affiliated pages. You must speak directly with a licensed specialist to receive personalized rate information based on your age, home value and loan type.

CFNB Reverse Solutions specializes in FHA-insured reverse mortgages, also known as home equity conversion mortgages (HECM). These loans are designed for homeowners aged 62 and older who want to convert home equity into income without monthly mortgage payments. If you’re exploring other financing options, CFNB also offers a range of traditional real estate loans.

While reverse mortgages are CFNB’s specialty, the bank also offers these traditional loan products:

• Conventional home loans: Standard fixed or adjustable-rate mortgages for home purchases or refinancing
• Construction loans: Short-term financing for building a new home
• Home equity loans: Lump-sum loans secured by your home’s equity
• VA loans: Government-backed loans for eligible veterans and service members
• USDA loans: Loans for qualifying rural properties with no down payment
• FHA loans: Low down payment loans insured by the Federal Housing Administration

To qualify for a reverse mortgage through CFNB Reverse Solutions, you’ll need to meet several borrower, property and financial requirements. These follow FHA guidelines for HECMs, which are the only reverse mortgages insured by the federal government.

Borrower requirements

• You must be at least 62 years old
• The home must be your primary residence
• You must own the property outright or have paid down a significant portion
• You can’t be delinquent on any federal debt
• You must complete a counseling session with a HUD-approved HECM counselor
• You must have the financial ability to pay ongoing property charges (taxes, insurance, HOA fees)

Property requirements

• Single-family homes
• Two- to four-unit homes (with one unit occupied by you)
• HUD-approved condominiums
• Manufactured homes that meet FHA standards

Financial review

• CFNB will verify your income, assets, monthly expenses and credit history.
• You must show the ability to pay property taxes and insurance on time.
• No minimum credit score is published, but financial stability is required.

CFNB doesn’t publish down payment requirements for reverse mortgages, since HECMs typically don’t require one unless you’re using a reverse mortgage to purchase a home. In that case, the down payment is based on age, home value and expected loan proceeds.

CFNB Reverse Solutions follows FHA guidelines for reverse mortgage costs. CFNB states most fees can be financed — meaning they’re paid from your loan proceeds rather than out of pocket — but this reduces the net amount available to you. Here’s a breakdown of typical HECM costs, according to CFNB:

Mortgage Insurance Premium (MIP)

• 2% upfront at closing
• 0.5% annually on the outstanding loan balance

This insurance guarantees you’ll receive expected loan advances, even if the lender goes out of business.

Third-party charges

• Appraisal
• Title search and insurance
• Surveys and inspections
• Recording fees
• Mortgage taxes
• Credit checks

These vary by location and provider.

Origination fee

• Greater of $2,500 or 2% of the first $200,000 of your home’s value
• Plus 1% of any amount over $200,000
• Capped at $6,000 total

Interest rate

• Based on current market rates and loan type (fixed or adjustable)
• Not published publicly — must be discussed with a loan officer

Servicing fees

• May apply depending on the lender’s structure
• Covers ongoing account management and communications