Mortgage Programs

Fixed Rate Construction Loan
Fixed rate mortgages are loans where the interest rate for your mortgage stays the same for the entire term of the loan.  Fixed rate construction mortgages are available in either a 15, 20 or 30 year term.  Generally, the longer the term of the loan, the higher the interest rate.

Adjustable Rate Construction Loan
Adjustable rate mortgages are loans where the interest rate on your mortgage is subject to change at some point during your loan term.  Adjustable rate loans are available with repayment terms of 30 years.  However, the interest rate on your loan may only be fixed for a period of 3,5,7 or 10 years – depending on the option you choose.

Jumbo Construction Loan
Jumbo loans are loans in excess of Fannie Mae’s maximum loan limit based on a property location. Because we are a bank, we have the flexibility you need to build your new home.   Down payment requirements can vary depending on the total estimated cost of the home and other factors.

Lot – Vacant Land Loans
Lot and land loans have a repayment term of 30 years, with your rate being fixed for the first 3 or 5 years.  If you have not started construction on your home within the first 3 or 5 years you may have a change in your interest rate.

NO Monthly PMI Loans
We are pleased to offer mortgage options that allow for NO Monthly PMI (Private Mortgage Insurance).  Eliminating monthly PMI insurance may save you a substantial amount on your monthly payment and may save you thousands of dollars over the term of your loan.  Contact our office to find out what options may be available to you.

NOTE:  All loans with a down payment of less then 20% require some form of mortgage insurance.  Some loan structures allow for the elimination of monthly PMI insurance when a premium is paid in a lump sum at the time of closing or is paid by the lender.  Depending on your individual circumstances some options may be more favorable than others.

Flexible Portfolio Construction Loans
Because we are a bank, we offer a number of common sense loan products that offer flexibility and more generous qualifying guidelines.  If one of these options are appropriate for you, we will discuss it with you.

Renovation Loans
Maybe you found that home that is a diamond in the rough and just needs some updating to be perfect. Whether you are doing a subtle or substantial remodel, we offer flexible renovation loan options that can allow you to fix up the home you are hoping to purchase or possible remodel the home you currently own.