14CSB017_Website_ _0001_Personal_owner builder

Dream of building your own home?

Nail it with our Owner Builder Mortgage.

Get help every step of the way with these groundbreaking loans.

At cfsbank, we created the Owner Builder Mortgage for people just like you – folks who want to build their own home from the ground up. Thanks to many years of advising, directing and problem solving with owner/builders, we’ve developed relationships with a majority of local home building vendors. Count on us for all the support you need with these innovative loans. You’ll get help from planning and building to finishing and beyond.

Owner Builder Mortgage

  • You are your own contractor
  • Twelve months to build
  • Approved construction bills and invoices paid weekly
  • Interest only payments during construction
  • Only one loan closing – saves time and money
  • Lot/acreage may be financed
  • Lot and/or labor-equity can be used toward down payment
  • Specializing in log and modular home construction
Terms Down payment equity Rate** Points APR*
15 Year 20% 3.250% 1 3.561%
20 Year 20% 3.875% 1 4.126%
30 Year 20% 4.000% 1 4.185%
Rates Effective December 14, 2017

* Annual Percentage Rate
** Best rate available at cfsbank.

Above APR’s assume a $100,000 loan amount for term stated. Monthly payment example: 348 monthly payments of $4.86 per $1,000 borrowed at 4.000% Interest Rate with a corresponding 4.185% APR.

  • Interest may be tax deductible, please consult your tax advisor.

Full Contract Construction

  • Flexible disbursement schedule
  • Twelve-month construction period
  • Interest only payments during construction
  • Customized payout schedules available for home improvement projects
  • Borrowers approve all scheduled phase pay-outs prior to bank disbursements

 

  • Lot/acreage financing available
  • Specializing in log and modular home construction

 

 

Terms Down payment equity Rate** Points APR*
15 Year 10% 3.250% 0 3.372%
20 Year 10% 3.875% 0 3.974%
30 Year 10% 4.000% 0 4.073%
Rates Effective December 14, 2017

* Annual Percentage Rate
** Best rate available at cfsbank; credit history may affect your interest rate/APR.

Above APR’s assume a $100,000 loan amount for term stated. Monthly payment example: 348 monthly payments of $4.86 per $1,000 borrowed at 4.000% Interest Rate with a corresponding 4.073% APR.

  • 10% down payment available with the purchase of PMI