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Grab the Tools to do the Job Right
Two-Step Construction Loan
- 12 month, interest only loan
- Owner's equity contributed at the end of construction process
- Draws and disbursements handled locally
- Easy transition from construction to permanent financing
- Desirable rates with competitive closing costs
- Loan amount is based upon appraised value
Lot & Construction Loans
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Years
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Rates
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Points
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APR*
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Monthly Payment Example
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12 Month Construction Loan - Local Service
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4.95%
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0
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5.97%1
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Interest Only Monthly
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Lot Purchase Loan - Local Service
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4.95%
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0
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5.99%2
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Interest Only Monthly
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*Construction Loan: 1APR is based on a loan amount of $300,000 for 12 months, interest payable monthly on advances made and a 20% down payment, 1-4 unit owner occupied. If you don't secure permanent financing with the State Bank of Cross Plains, your rate will be 4.95%/7.05%APR.
*Lot Purchase Loan: 2APR is based on a loan amount of $80,000 for 12 months, interest only payments which range from $330.00 to $341.00 and a 20% down payment.
*APR = Annual Percentage Rate
All rates, points and programs are subject to change at any time. All loans are subject to credit approval.
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Contact one of our Mortgage Lenders for more information at:
- Cross Plains: (608) 798-3961
- Middleton East: (608) 828-2980
- Middleton West: (608) 828-2285
- Mount Horeb: (608) 437-8968
- Madison: (608) 826-3500
- Oregon: (608) 835-2750
- Verona: (608) 845-6486
- Waunakee: (608) 849-2700
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