Home Mortgage Loans

• Competitive rates for home purchase, refinance, or construction
• Available for primary residence, second homes, vacation homes, or investment properties
• Repayment terms customized to fit your budget
• A wide range of financing programs available:
  • Fixed rate mortgages
  • Adjustable rate mortgages (ARMs)
  • FHA Loans
  • Construction Loans
• Helpful loan advisors with working knowledge of the real estate market
• Pre-approval for extra confidence when it comes to securing financing
• Refinance your current home to potentially lower your rate
• Attentive, friendly service from start to finish

• Competitive rates for your home construction project
• Available for primary residence or second home construction
• Provides more convenience, especially toward the end of the construction phase and the beginning of permanent mortgage
• Pay off interest quicker; payments are interest-only during construction phase
• Payments are made on the amount drawn on your loan sufficient to pay your builder
• Construction draws applied in stages based on work completed
• Must be contracted with a Licensed Residential Contractor

How to Apply

Once you’ve gathered the information to support your loan application, contact a loan representative to start the financing process. A construction lending officer will review your request and order the property appraisal to obtain a final “as-if complete” value, as well as a preliminary title report to ensure all encumbrances and liens are cleared prior to starting construction.

Once this information has been obtained, the file will be submitted for underwriting. Upon approval, your loan docs will be prepared locally, and you will close with the title company.

Starting Construction

As draw requests are needed, you will contact the construction loan department and provide the appropriate lien waivers from the previous draw request prior to obtaining the funds for the next draw. The loan department will send out an inspector at his/her discretion prior to committing to the release of these funds.

Information Needed

• Builder contract
• Builder cost breakdown
• Copy of builder’s license, plans and specifications
• Completed application
• Purchase contract for land or copy of settlement statement if already owned

This is the information you should have at hand when you apply for your construction loan. This is a general list, and we’ll let you know of any additional information we may need to make your loan application complete.

Income/Asset Verifications

Salaried Borrowers

• Pay stubs for the most recent 30-day period
• Last two years' W-2 statements for all borrowers
  • All pages of checking and savings account statements from the most recent 30-day period
  • All pages of asset account statements, including money market funds, mutual funds, stock accounts, IRAs, CDs, etc., from the most recent 30-day period

Self-Employed Borrowers

• Complete signed tax returns for the last two years, including schedules, statements and K-1’s and/or a copy of the filed extension if applicable
• Year-to-date profit and loss statement, if beyond June 30th
• Deposit Verification
  • All pages of checking and savings account statements from the most recent 30-day period
  • All pages of asset account statements, including money market funds, mutual funds, stock accounts, IRAs, CDs, etc., from the most recent 30-day period.

Miscellaneous Borrower Documents (if Applicable)

• Divorce decrees, child support agreements, or separate maintenance agreements
• Copies of any leases and two years of federal tax returns on any rental properties you own
• Pension letter and Social Security awards letter, if applicable