Updated February 20, 2008

Construction Loan Rates:

30 year fixed @ 6.95% interest only during the 12 month Construction period.  Loan automatically converts to a Fixed rate mortgage upon completion of construction based on the Freddie Mac 60 day yield + .25%.  As an example if you were finishing your home today your permanent mortgage interest rate would be 6.384%.  The cost is 2 points lender fee, $495 Administration fee, and $295 to cover inspections. (APR will vary)

Fixed for 5 years @5.75% after the construction period of 12 months and the next five years the rate remains @ 5.75% then converts into an adjustable rate mortgage based on the CMT Treasury Bill index + 2.75% (2.050% on 2/15/2008).  APR 5.379%  The cost is 2 points lender fees, $850 Construction Admin Fee, $400 Document fee, $80 tax fee, $ 20 Flood Certification, and $20 credit report.

75% Lot Loans 2 years 6.875%, 2.5 points

Agricultural Loans Call for quote.