Real Estate Loans
BankPlus makes consumer real estate loans for a number of purposes:
- Land/Lot Acquisition Loans. If you are looking for a property to build a home, a short-term loan is available for the purpose of purchasing a tract of land for the construction of your home.
- Residential Construction Loans. BankPlus extends construction loans to property owners who contract with a custom builder who has responsibility for the payment of materials and subcontractor services. Construction loans may also be made to borrowers who act as their own contractor, securing and paying for their own materials and subcontractors.
Occasionally, and subject to bank approval, a construction loan may be made to a builder or contractor, who is known to the Bank, for constructing a pre-sold house on which title will be transferred to the prospective owner upon completion. The contract between the builder and buyer must include a written takeout commitment from a bank or mortgage broker for the prospective owner.
- Long Term Residential Property Loans. Our Mortgage Center Originators will help you find the residential first mortgage that is right for you and your budget. These loans are extended to an individual or individuals for the purpose of purchase, construction-permanent financing, and refinancing of one-to-four family residences. This loan may also be used for the purchase of recreational or vacation homes.
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