Offers customers who are building homes the flexibility of a a single close loan. Construction financing commonly involves two loans: one interim construction loan for the building of the home and one permanent loan for the completed home. The Construction/Perm Advantage Loan, however, streamlines the mortgage while locking into todays interest rates upfront.

Protects you against rising interest rates while your new home is under construction by enabling you to lock your interest rate for up to 18 months or float. And if the market improves during construction, you can exercise a one-time float-down option at no additional cost to get the best rate. Or you can make a one-time switch to any eligible Mortgage product and get the current rate, at no additional cost.

One-time close, locked into today's low Fixed Interest Rates. Construction loans available in 40, 30, 20 and 15 year amortizations.

One-time close, locked into today's interest rates for 3/1, 5/1, 7/1, and 10/1 fixed to ARM loans. The ARM loans are a perfect choice if you desire a lower initial fixed rate for a 3, 5, 7, 10 year period. Interest only loans also available.

These properties integrate residential spaces with commercial uses, such as retail or office space. Often these properties have a ground floor retail store or office with apartment(s) above, all in the same building.

We fund residential structures that contain five or more dwelling units in the same building. These multi-story buildings generally offer individual apartments for rent with common area facilities, such as an entrance, lobby, elevator, stairs, hallway, walks or grounds.

HSM Finance will consider all commercial and unique properties that fall within our program guidelines and loan amounts, including churches, day care and educational facilities, and funeral homes.

There usually is only one purpose in getting a land loan and that is to buy the land to eventually build a new home. The only banks that provide land loans are banks that provide construction loans and even some of these banks will not provide land loans. Land loan terms usually range from 2, 5 to 20 year loan periods, amortized over 20 and 30 years. Land loans are also available with interest only options. This can be very beneficial so the land payments are affordable while you are obtaining plans and permits to build your new home. Buying land is like buying a expensive car that you cannot drive. Its very important to realize that a land loan should be thought of as a temporary loan. The land loan will be paid off with the construction loan once you are ready to apply for the construction loan. If you are not planning on building soon then you will want a land loan with a long term balloon payment.