Special Lot Financing Available! offered by TowneBank
The fundamental terms of the package are as follows:
Have a credit score of 700+
95% loan to acquisition cost financing
Term up to three years
Interest-only monthly payments
5% Interest Rate (If prime rate exceeds 5.15%, rate will be prime minus .15%)
No Fees
Obtain lender's title insurance through one of TowneBank's affiliated title companies
Bank will use a master lot appraisal for all waterfront lots at no cost to buyer
Borrower to establish and maintain a $5,000 balance in a non-interest checking account with TowneBank
TowneBank has the right of last refusal on all construction and permanent mortgage financing
Bank to receive a current personal financial statement on borrower not older than 6 months and the last 2 years federal income tax returns, including all K-1s
Final approval is subject to Bank's underwriting standards for residential lot loan
To apply, please contact Chris Spanoulis at TowneBank at 757-412-1368
Special Construction Financing Available! offered by TowneBank
In partnership with Prudential Towne Realty, we are pleased to offer special Construction to Permanent mortgage financing through the Preferred Builder's Program in River's Bend at Uncle's Neck.
This communication is provided to you for informational purposes only and should not be relied upon by you. Prudential Towne Realty is not a mortgage lender and so you should contact TowneBank directly to learn more about its mortgage products and your eligibility for such products.
- All loans and terms are subject to underwriting and credit approval. - Terms are subject to change without notice. - This offer may be suspended or cancelled without further notice.
