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We are so pleased you have considered Sunrise Bank of Arizona for your new construction financing needs. We have loan programs to fit just about every home and Borrowers needs.
“Best of all, you pay only ONE set of closing costs!!!*”
Our loan program is designed to give you ample time to build your home. All Construction Loans are for 12 months. If you complete your home prior to the 12 months, you can modify your loan to its permanent phase, with no penalty.
Your loan amount can be increased or decreased at the end of the construction phase. If you lower your loan amount, we will re-cast your loan payments, at no charge to you.
The permanent loan is your choice! Sunrise Bank of Arizona offers many fixed, ARMs and interest only rate options. Sunrise Bank of Arizona offers an extended rate lock ** with a float down option. That's right if the rates are better when you are finished with construction you get the better rate!
Don't have 20% down? Not a problem with Sunrise Bank of Arizona. We offer construction loans with as little as 5% down, and during your construction phase you will not have to pay the monthly mortgage insurance payment! Ml payments won't begin until your house is complete!
We look forward to working with you and your builder on your construction project!
* Extended Rate locks require an upfront deposit, fees
vary depending on program.
** Borrower will be required to pay recording, pre-paid interest &
escrow establishment at Modification
What to Bring to Your Loan Application
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For more information or to schedule an appointment, please telephone:
Robert Cantazaro
Vice President, Residential Mortgage Specialist
Direct Number: 602-522-5738
Cell Number: 480-326-7444
Fax Number: 602-956-6258
Email: robert.cantazaro@sunrisebankofarizona.com
** All Loans Subject to Credit Approval
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© 2008 Sunrise Bank of Arizona |
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