6.50% Fixed Interest Rate on Construction Loans
*7.59% APR (Annual Percentage Rate)
Monthly payment of accrued interest will be due based on the outstanding principal balance.
*New Construction loan APR is offered through 8/31/23. Interest rate of 6.50% is a limited-time offer for a new, single family, owner-occupied construction loan. APR is 7.59%. The APR will vary based on market, loan amount and finance charges. 12 month maximum construction loan term. Example: $300,000, 12-month term, 11 monthly interest-only payments will range from $0-$1,656.16 with principal and interest $301,656.16 due at construction loan maturity. Origination fee of 0.50% of the loan amount plus finance charges. Finance charges can include: Appraisal Fee, Credit Report, Title Work, Title Insurance, Recording Costs, etc. Rates are not guaranteed until locked and are subject to credit approval, other restrictions may apply. Offer is subject to change without notice.