Low fixed rate
A low fixed rate of prime minus 0.25%.
Get up to 12 months to repay your loan.
1% origination fee.
The interest rate for the construction loan is a fixed rate indexed Wall St. Journal Prime minus .25%. The interest rate is fixed at application and the loan must be closed within 90 days of application to maintain the rate.
Construction loans may be financed up to a 12-month term. Term may be extended if additional time is required to complete construction.
The Bank will finance up to 90% of total construction costs not to exceed 80% of appraised value.
Interest only payments, due monthly. The interest due is based upon the principal balance drawn from the line of credit.
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
Credit products are not FDIC insured.