Are you dreaming of building a new home? Bank of American Fork can help turn your dream into reality with a 3.99% construction loan (14.0365% estimated APR*) for loan amounts up to $417,000. Loans must be for new construction only (no remodels) on a primary or secondary residence (no rental properties). Here’s what you’ll get with our low-rate, high-service, home-construction loans:
– Low, fixed rate for the 4-month term† of the loan (the payment will increase as the balance increases)
– 1.5% origination fee
– An interest reserve will be set up to make the monthly interest payments during the 4-month term
– A balloon payment at the end of 4 months
– Fast approval
– Multiple free draws
– Exceptional service
Save thousands more with no long-term mortgage origination fee when you get both your construction and mortgage loans from Bank of American Fork.‡
A low, fixed rate for four months and no mortgage origination fee, combined with low building costs, can potentially save you thousands on your dream home.
Learn more about this offer by contacting a mortgage loan officer at 800-815-BANK or firstname.lastname@example.org.
*Annual Percentage Rate (APR). The 14.0365% estimated APR is based on a $417,000 construction loan at 3.99% with Bank of American Fork’s standard construction loan fees and a 4-month term. The standard construction fees for a 4-month term are: 1.5% origination, $300 inspection, $100 appraisal review, $15 flood determination, $5 credit report (per borrower), title insurance (varies), recording (varies), and appraisal (varies). The annual percentage rate is a measure of the cost of the loan, expressed as a yearly rate, that relates the amount and timing of value received by the consumer to the amount and timing of payments made. In the case of a 4-month loan, the APR annualizes the fees as if they were paid three times in a year. Subject to credit approval. Maximum loan amount is $417,000. Other discounts may be available if necessary for loans exceeding $417,000. Inquire for details. Only valid in Utah, Salt Lake, Davis, Weber, Tooele, and Wasatch counties.
†An additional 2-month extension with a 0.25% extension fee may be available if necessary.
‡The 1.5% construction loan origination fee applies whether the long-term loan comes from Bank of American Fork or not. The mortgage must follow a construction loan originated on or before December 31, 2012. Only valid in Utah, Salt Lake, Davis, Weber, Tooele, and Wasatch counties.