Sedona Villas' Special 10% Down Program: Offered by Johnson Bank
This is a "One Time Close" new home construction loan program to finance the construction of a primary residence, second home or investment property by providing both the construction financing and permanent loan all in one closing. This means that you sign only one set of loan documents and do not have to worry about re-qualifying, re-appraisals, additional closing costs or signing additional loan documents.
You can lock in the permanet rate at closing, and have up to 12 months to complete your new home construction. During this period, interest is charged only on the funds that have been disbursed. When the construction is completed, the permanent loan period begins.
Unlike a purchase transaction of an existing home, New Home Construction loans involves determing the value of something that is not yet constructed. Johnson Bank will use the lower of the construction contract/ appraisal to determine the loan to value.
To qualify for a construction loan you will need to provide the standard income and credit documentation that is required in any real estate transaction.
Born and raised in Arizona, Jamie remained in the state and received a Bachelor of Science degree from Arizona State University. He attended the Arizona School of Real Estate and became a licensed agent in 1980, selling both homes and commercial properties. He began providing financing for homeowners in 1992, and has since funded more than $1 billion in mortgages for over 5,000 customers. Responsible lending practices and exemplary customer service keep those clients coming back. "I enjoy helping first-time home buyers as much as luxury homeowners," he says.
Jamie Kirkegaard, AVP
Seniour Mgr Loan Officer
"Financing for homeowners since 1992, and has since funded more than $1 billion in mortgages for over 5,000 customers."
