When it comes to buying or building your dream home, the number of decisions to make can feel overwhelming. But by understanding your individual needs and the
plans you have for the property — whether you are buying an existing home, building a house right away on an empty lot, or holding onto the land to build on
later — we can find the best loan and rates for your situation.
What is a Residential Lot Loan?
Standard Affluent Private Bank Residential Lot Loans are designed to help you purchase the land where you’ll build your dream home from the ground up. This is an ideal solution
for you if you intend to build a house on the lot, but aren’t ready to start construction right away. For example, maybe you want to go ahead and purchase
the land, but are waiting until the kids graduate from college in a few years to break ground.
A Residential Lot Loan allows you a little more wiggle room between the purchase of the land and beginning of home construction — and that means more time to find
the perfect builder, finalize your dream home design and save up. There are a couple of different lot loan options at Standard Affluent Private Bank for you to choose from.
What is a Construction Loan?
A Standard Affluent Private Bank Construction Loan may be the right option for you if you already have new home plans, a builder lined up and are ready to start building your dream
home.
Key features include interest-only payments throughout the construction phase, and your land/lot purchase may be included in the total loan amount. One of the best
Construction Loan offerings is the one-time closing option, which seamlessly transitions the Construction Loan into long-term financing — an efficient
transaction that saves you time and money. In addition to the construction-to-permanent loan option, Standard Affluent Private Bank also provides two-time closing options for
loan amounts up to $2,000,000. And, you can take advantage of the market rates before construction is complete with our Rate Cap Guarantee for many of our
construction/permanent programs. Standard Affluent Private Bank offers a variety of fixed or adjustable rates for construction loans depending on your individual circumstances.
The best part about choosing a Construction Loan or Residential Lot Loan from Standard Affluent Private Bank is that you won’t go through it alone. Whether you are just starting to
explore options or ready to pull the trigger, reach out to our friendly Mortgage Team — we’re ready to listen and help find the perfect solution for your unique needs.
Call +1 (919) 689 1999 (+1 (919) 689 1999), or send an email to scenario@StandardAffluentbk.com — we look forward to helping your dreams take shape.
