Rehab
Two-time
Extended
Adjustable-rate mortgages (ARMs)
Fixed-rate mortgages
Jumbo loans
Conforming loans
Simple draw process
In-house appraisal desk
Bridge loan
Renovation Projects
If the thought of building a new home is overwhelming, consider renovating an existing property. This option can be used on a home you are purchasing or the home you already own.
Financing from Bell becomes a powerful tool that will help you alter an existing structure to fit exactly what you need. Rearrange your current layout, or add new space to accommodate your personal tastes:
Redesign or expand a kitchen
Add bedrooms, bathrooms, or family rooms
Expand a home’s square footage
Update or repair older, deteriorated areas of the home — including mechanical
Finish the lower level, add dormers, or even add another level
Replace roofing, windows, and appliances
Rejuvenate landscaping
Freshen up interior and exterior finishes
Add modern safety, connectivity, and accessibility options
FIRST 3 STEPS TO PLAN YOUR BUILD
Work with your Bell Bank Mortgage loan officer to determine how much you can afford, then start making definitive plans. Our in-house new construction team can help you evaluate which financing options will fit you best.
Think about your lifestyle and plans for the future to identify what you’re looking for in your new home. Select a builder by visiting model homes and researching builder options in your price range.
NEW CONSTRUCTION FINANCING OPTIONS
New construction financing is different than financing an existing home purchase. Whether you plan to build from scratch or buy a property to remodel or tear down, there is more to plan and prepare for. This is where Bell’s experience comes in. We’ve been providing new construction financing for decades and are ready to help guide you through your transaction.
ONE-TIME CLOSE
Sometimes it makes sense to simplify, and our one-time close (OTC) loan for new construction does just that. The OTC streamlines the financing of your construction project while retaining the opportunity to lower your loan amount and overall interest. This option is ideal for new builds that are expected to be completed in less than 18 months and can be financed with a conforming loan.
TWO-TIME CLOSE
Our two-time close loan is an alternative that offers more flexibility and additional options at project completion, and can be used to accommodate larger, more complex or longer-term builds. This option uses one loan to fund the improvements and a second loan, at the project’s completion, to pay off the construction loan plus any remaining balance.
Buy Now, Build Later
Bell Bank Mortgage can also help you finance the purchase of a residential lot and guide you through the entire process, from buying the lot to making the transition to the construction phase of your new home.
Our team of new construction lenders offers residential lot loans for vacant land or sites with structures that are intended to be renovated or torn down.
Our lot loan is a financing option intended to allow a customer to secure a desired lot prior to being ready with project documentation, giving them time to select a builder and finalize plans to build or renovate.
Bell lot loans are intended for future construction projects, not as a means of acquiring recreational land.
