A fixed rate loan secured by a 1st mortgage on the dwelling.
-
You can use a builder of your choice or be your own general contractor.
-
Pay interest on a monthly basis, only on the amount drawn, from your construction loan.
-
Disbursement of funds within 24 hours.
| Product Features |
| Credit Amount |
Borrow up to 80% of the appraised value or purchase price of the home, whichever is less. |
| Term |
You have one year to complete the home. |
| Interest Rate |
Low fixed rate. |
| Interest Calculation |
Simple (365/365). |
| Payments |
Monthly interest payments due on the date established by the customer. Payment may be automatically deducted from the customer's checking account. |
| Billing Method |
Monthly billing notice. |
| Late Fee |
5% of payment amount. |
| Fees |
Fees vary depending on loan amount. |
| Miscellaneous Fees |
No annual fees, prepayment fees, setup fees, or transaction charges. |
| Internet Banking Customers |
Free on-line access to your loan information, 24 hours per day, 7 days a week. |
| Other Features |
- Payments may be made via Telephone Banking, Online Banking or per phone/verbal request.
- No application fee.
|
A fixed rate loan secured by a 1st mortgage on the dwelling.
-
You can use a builder of your choice or be your own general contractor.
-
Pay interest on a monthly basis, only on the amount drawn, from your construction loan.
-
Disbursement of funds within 24 hours.
| Product Features |
| Credit Amount |
Borrow up to 80% of the appraised value or purchase price of the home, whichever is less. |
| Term |
You have one year to complete the home. |
| Interest Rate |
Low fixed rate. |
| Interest Calculation |
Simple (365/365). |
| Payments |
Monthly interest payments due on the date established by the customer. Payment may be automatically deducted from the customer's checking account. |
| Billing Method |
Monthly billing notice. |
| Late Fee |
5% of payment amount. |
| Fees |
Fees vary depending on loan amount. |
| Miscellaneous Fees |
No annual fees, prepayment fees, setup fees, or transaction charges. |
| Internet Banking Customers |
Free on-line access to your loan information, 24 hours per day, 7 days a week. |
| Other Features |
- Payments may be made via Telephone Banking, Online Banking or per phone/verbal request.
- No application fee.
|