Best Place, Best Rates, Best Terms…
Thinking of Building?
Ask About Our Construction Mortgage*
Patriot can help you save with simple Construction/Permanent financing:
- Six-month construction phase
- A wide range of end loan financing options available, including fixed rates up to 30 years and our very low payment 5/1 ARM product
Plus, our first mortgage loans have:
- Easy Online Application
- Streamlined Process
- Great Low Rates
- Low Closing Costs
*Construction loan is available for first mortgages only. Maximum loan to value (LTV) is 95% up to $417,000. Sample construction mortgage of $150,000: Interest only payments on the principal amount drawn at a rate of the Prime Rate plus a margin of 1% for 6 months. 30 year fixed rate mortgage sample loan terms: Loan amount $150,000, interest rate of 4.5% (APR of 4.594%), Principal and Interest payments of $760.03. Escrows for Taxes, insurance and mortgage insurance are not included. Mortgage insurance is required for any loan in excess of 80% LTV.
Builder/Contractor must meet approval guidelines. All loans subject to credit approval.
Additional terms and programs available, call for details.