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Construction Loans

closing date guarantee we guarantee your closing date or we pay you $1,000

 

finger pointing at building plans on tabletBuild with our New Construction Loan

Built to make it easy!

Let us help you finance your dream home. GTE will work with you to make the construction loan process simple and streamlined. Our 5/5 Adjustable Rate Mortgage will provide you with a competitive, low starting rate as you build. 

Great Benefits:

  • Start with a low-rate Adjustable Rate Loan. ARMs typically have a lower rate than fixed rate loans. Enjoying a lower rate while you are building can be a big benefit!
  • Enjoy interest-only payments for 12 months.
  • A single closing for building and moving in. 

Other Features:

  • This loan is also available for larger lending amounts including the Mini Jumbo (Homes $453,101 - $750,000) as well as the Jumbo ($750,001 - $1,250,000). 
  • Rate caps = A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan. With a 5/5 ARM, the rate can only change every 5 years, which means added stability. Plus, the rate can only increase by a maximum of 2% each adjustment period. 
  • Index = 1 Year Libor
  • Margin = 2%

Speak to a Home Loan Specialist today to learn more about this incredible product!

Meet the Team

 

*An example APR for a 5/5 ARM Construction Loan is 4.559%. An example monthly mortgage payment of principal and interest is $552. The example quotes are based on a property value of $200,000 and a loan amount of $100,000. The Annual Percentage Rates (APR) stated is an estimate and is intended for informational use only. Your actual APR may vary based on your actual loan amount. Please visit the Loan Consultant for additional information about our rates and fees. Rates are subject to change without notice. Your actual rate and/or points may be different, as many factors are evaluated for a loan approval.

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