New Construction Loans

loans

Are you interested in building your dream home? There are special rates and loan programs available for you. Mark specializes in finding the financing that will only require one closing instead of two.

Build Your Dream Home

One-Time Close Construction Loan is a program which the construction loan is modified to the permanent financing upon completion of the home.

  • Once construction is complete, the construction loan is modified to a permanent fixed rate loan.
  • Only pay closing costs once
  • Discounted rates available during construction with automatic payments set up through a Lake Area Bank checking account
  • Monthly interest only payments during construction, based on amount of loan disbursed

Two-Time Close Construction Loan is a program which offers flexible options for your new home construction project.

  • Flexible down payment options to fit your unique situation
  • Extended Locks available
  • Ability to close on construction loan before current home is sold
  • Discounted rates available during construction with automatic payment set up through a Lake Area Bank checking account
  • Monthly interest only payments during construction, based on amount of loan disbursed

Application Checklist:

After applying for your loan and reviewing the applicable disclosures, please supply the following information if you would like to proceed with your mortgage loan application.

  • Driver’s license
  • Copy of W-2 forms
  • Most recent two months bank statements
  • Proof of other funds (i.e. net proceeds sheet from sale of current home, employer relocation funds, gift funds, etc.)
  • Current mortgage statement(s)

Do you have additional questions for Mark? Call or email Mark today.