Work Info

Bloged in Mortgages and more... by Drew Wednesday February 29, 2012

To apply please contact

Drew McKinney

612-607-7638 Phone

NMLS# 1461655

Construction Loan

Roundbank offers two types of construction loans.  We can assist you in determining with type best fits your needs.

One-Time construction closing:

  • Single approval process combines the home construction loan and the permanent loan in one.

  • Lower loan costs.  You save money by paying reduced closing costs in single closing.

  • Best for those who can accurately anticipate their final construction costs.

    Two-Time construction closing:

  • Financing is available to pay costs incurred during the construction phase with a second closing for the permanent loan to payoff interim financing.

  • Flexibility to change the permanent loan production, term and amount.

  • Best for those who are not able to accurately anticipate final costs.

    Loan Features:

  • Up to 12 months to complete the home.

  • Interest is accrued only on the amount advanced.

  • Eligible property types: Primary, Vacation Homes, and Investment properties


  • Convenient access to funds

  • Roundbank retains servicing of the mortgage.

To apply please contact

Drew McKinney

612-607-7638 Phone

NMLS# 1461655 

Residential Lot Loan


A residential lot loan is used to purchase non-income producing land, up to a maximum of 40 acres.  You can use this loan to buy the land where you want to build your new house.


  • Affordable payments with minimal closing costs.

  • Stable Monthly Payments

  • Source of down payment is flexible

  • Roundbank retains the servicing



  • Loan term/amortization:

    7 year term with 10 or 15 or 30 year amortization

  • Loan Purpose:

    Purchase and New Construction only

  • Eligible property types:

    Non-income production lot, Maximum 40 acres

  • Loan Limits:

    Generally over $10,000 with no max lending amounts


    To apply please contact

    Drew McKinney

    612-607-7638 Phone

    NMLS# 1461655 

I beat the big banks, the big internet lenders, and the Realtor’s in-house lender everyday.

 I will not charge an application fee to apply, and we will only move forward with your permission after reviewing all your options with you. Call (612) 607-7638.

 Speaking with me, an experienced, and Licensed Mortgage Banker is easiest and best way to apply, or to obtain an accurate interest rate quote and a Good Faith Estimate of closing costs. 

 Get live market mortgage rates and closing cost cost options.

 Pick what interest rate or closing cost option works best for you.

Comments are closed.

20 queries. 0.050 seconds. Site Designed and Hosted by Digital Array.