Lot Loans

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Lot Loans Longmont
The perfect home begins with the perfect location.  Whether you plan to build right away, or years down the road, we can help you finance your purchase.

Lot loans are mortgages for lots to finance a parcel of land which you want to build a home. These loans are intended for residential development.  Most likely you will need a building permit, access to public roads or rights to access a permanent easement, utilities on site or nearby and access to a public sewer or a private alternative.

There are many programs that can assist with this type of purchase. The borrowing for a lot land can get complicated so it is important to discuss with a Mortgage loan originator in Longmont, CO; such as Dianna Arrington, and a mortgage company such as FMS Bank to get the right information about construction mortgages that will help your transaction run smoothly.

Dianna Arrington is willing to jump through hoops and provide value to find you the best mortgage rates and program.  Get the conversation started and contact her today!


Construction Loans

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Construction Loans in Longmont, CO
A construction loan is a short term loan for real estate. You can use the loan to buy land, you can build on property that you already own, and with some programs you can even renovate existing structures.

Building is your chance to have everything you want in your dream home, but the construction loan process can be complicated. When you borrow money to build a house there is no collateral to back up the loan the way there is in a traditional mortgage; therefore, you can expect a thorough inspection of the architectural plans and your builder as well as your finances.

If your existing home is in the perfect location and just needs some updating and remodeling, a renovation construction loan will allow you to upgrade and repair, rolling the costs into your permanent mortgage.

Construction loans do involve a 3rd party; the builder. Be cautious and research who you hire to build or renovate your home as everything depends on the builder’s ability to complete the construction plans on time and within budget.

We are an experienced construction lender and can lead you through the process with minimal frustration.

Before you build be sure to get pre-qualified before you start on plans and specs. Knowing before spending can save you money in the long run.

Benefits Include:

➢ Credit decisions made locally
➢ Same appraiser for both loans
➢ Draws funded the same day
➢ Simultaneous close for lot purchase and construction financing
➢ Cash lot equity counts as down payment
➢ Permanent loan underwritten up front
➢ In-house underwriting, financing and funding of interim and permanent loan
➢ One on one service to help with your mortgage needs
➢ Competitive rates and low fees
➢ Accountable to our clients
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Member FDIC - Equal Housing Lender