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RAGBRAI will impact traffic in Ogden, Boone & Ames on July 24-25

All VisionBank locations will be open regular business hours both days, but access to our branches may be impeded. CLICK HERE for details.

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Special Construction and Mortgage Program

BUILD & GROW WITH US

Let VisionBank help build your dream home! In addition to low loan rates, NO application fees, and a fast approval process, VisionBank mortgage lenders provide the hassle-free, money-saving experience you deserve. This offer - in addition to a FREE VisionPerks Checking account (for 12 months) - is set aside for you when you talk with one of the professionals ready to serve you at VisionBank. 

PEOPLE YOU CAN TRUST

Our trusted mortgage lenders offer extremely competitive rates and specialize in giving you the extra support and professional guidance necessary to thoroughly understand and meet your construction loan and mortgage needs. We pride ourselves on outstanding communication keeping you apprised of your loan process all along the way. Call us today, or contact our Ames Vice President of Mortgage Lending here:

Apply with Pam

Pam Nesbitt

NMLS# 18676
Vice President; Mortgage & Consumer Lender
104 Chestnut Street; Ames, IA
515-956-4343 / 800-574-8123

 

Construction Loan Program (serviced by VisionBank)

Term Rate / APR Payment Amortization Origination Fees
1 yr 4.24% / 5.296% Interest Only N/A .5% max of $3,000 when end loan is with VisionBank Hard costs only; Typically $1,000 - $1,250

Construction Loan - Minimum loan amount of $600,000 with 25% down is required to receive this rate; other rates and terms are available. The Annual Percentage Rate (APR) and payment is based on a loan amount of $600,000 with 25% down, a .500% origination fee and common customary closing costs. Monthly interest payments based on the loan’s average balance is $1,060.00 (interest only) and when the loan is fully advanced it is $2,120.00 (interest only). At maturity a final payment of $602,120 is due or must be refinanced. Example does not include taxes or insurance. These terms apply to newly constructed homes only.

End Loan Program: Portfolio Loans Over $453,100 (serviced by VisionBank)

Term Rate / APR Payment Amortization Origination Fees
15 years 4.875% / 4.886% Principal & Interest 30 years $0 $0
15 years 4.375% / 4.390% Principal & Interest 15 years $0 $0

Portfolio Loans - The Annual Percentage Rate (APR) is based on a loan amount of $600,000 with a 25% down and a lender credit for closing costs. Monthly payments for a 30 year amortization loan at 4.875% would be 180 payments of $3,175.25 (principal and interest) and a balloon payment of $408,027.79. Monthly payments for a 15 year loan at 4.375% would be 180 payments of $4,551.72 (principal and interest). Example does not include taxes or insurance. In certain circumstances an escrow account may be required.

End Loan Program: Secondary Market Loan $453,100 and Under (serviced by VisionBank)

Term Rate / APR Payment Amortization Origination Fees
30 years 4.625% / 4.643% Principal & Interest 30 years $0 $0
15 years 4.125% / 4.156% Principal & Interest 15 years $0 $0

Secondary Market Loans - The Annual Percentage Rate (APR) is based on a loan amount of $453,100, 40% down, 740+ credit score, and a lender credit for closing costs. Monthly payments for a 30 year loan at 4.625% would be 360 payments of $2,329.57 (principal and interest). Monthly payments for a 15 year loan at 4.125% would be 180 payments of $3,379.88 (principal and interest). Example does not include taxes or insurance.

All Annual Percentage Rates (APR) estimated as of 7/20/18 and are not guaranteed until locked

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