Other Types

Other types of loans include:

Land/Lot Loans

This loan is available to finance land or a lot when it is purchased prior to construction plans, needing just the land/lot financed and the buyer can begin building equity toward future development.

Construction Loans

A construction loan, unlike a mortgage, isn’t meant to be a long term loan. At Highmark we can offer the convenience of a construction to permanent loan that will save you money by eliminating some of the duplicate closing costs.

Land / Lot Loan Rates

These rates are effective as of Monday, February 13, 2012.

Type of Loan	Terms	A Rate APR		B Rate APR		C Rate APR		D Rate APR		E Rate APR
		720+		680-719		640-679		600-639		599-Below
		Rate	APR	Rate	APR	Rate	APR	Rate	APR	Rate	APR
	5 years	7.50%	7.946%	8%	8.448%	9%	9.452%	11%	11.461%	13.5%	13.973%
	10 years	7.75%	7.992%	8.25%	8.494%	9.25%	9.499%	11.25%	11.509%	13.75%	14.022%
	15 years	8.00%	8.175%	8.5%	8.678%	9.5%	9.683%	11.5%	11.695%	14%	14.210%
The APR calculation is based on a $100,000 loan amount for a fixed loan with a .5% origination and the maximum term allowable. This is assuming 20% down or a 80% loan-to-value with no PMI insurance.

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Construction Loan Rates

These rates are effective as of Monday, February 13, 2012.

Type of Loan	Terms	A Rate APR		B Rate APR		C Rate APR		D Rate APR		E Rate APR
		720+		680-719		640-679		600-639		599-Below
		Rate	APR	Rate	APR	Rate	APR	Rate	APR	Rate	APR
	6 Months	7.50%	10.340%	8%	10.845%	9%	11.852%	11%	13.867%	13.5%	16.387%
The APR calculation is based on a $100,000 loan amount for a fixed loan with a .5% origination and the maximum term allowable. This is assuming 20% down or a 80% loan-to-value with no PMI insurance.