Vacant Lot Financing from US Bank

We emailed a few weeks back regarding US Bank’s vacant lot program.  Here is a quick over view of their program and a flyer for any interested clients. 

·        Conventional mortgage financing 
·        20-30% down payment required
·
        3/1 ARM – 30 year amortization 
·
        No prepayment penalties 
·
        Construction contract not required to purchase vacant lot. 
·
        Construction loan financing available, current equity in vacant lot maybe used to secure financing for construction build. 
·
        Simultaneous vacant lot loan and construction loan closings available. 

A side note: the flyer says loan sizes up to $500,000; we can exceed this value up to a $3 million lot with credit/income approval. 

So what does this mean to our clients?  This offers a great opportunity for them to build their dream home on a lot of their choice.  Please feel free to contact us about their program and we will put you in contact with the correct people that will walk you through their process.  In addition to the vacant land financing they also offer residential custom construction financing too.