Financing Your

New Home

Close Just Once With Bell's Special New Construction Financing

Avoid the hassle and additional cost of closing twice.  Bell Bank Mortgage’s special program allows you to close just once when building your dream home.  No need to close again after completion!

Benefits and Program Details

* 5% down payment only available for loan amounts under $647,200.  Loan amounts $647,200 and above require higher down payment.

Simplify Your Build

With our one time close process

  1. Review construction loan program with your lender, Kevin Yamaya, and secure a Pre-approval.  Contact JP Brooks Builders to discuss any discounts.
  2. Finalize your plans and specs with JP Brooks Builders and lock your rate with Kevin Yamaya.  Get ready as we begin construction!
  1. Make 8 interest only payments as JP Brooks builds your masterpiece.  On month 9, your loan converts to a 30 Year Fixed* payment.  Work with Kevin Yamaya for full details of payment process
  2. Close on your new home!  We hand over the keys and you are on your way.  No need to re-qualify once the home is complete.

**Illustrative example of 8 month interest only period followed by 30 year fixed term assuming a $400,000 loan with an interest rate of 5.5%, 5.606% APR. During the first 8 months of the loan, the payment will be interest only based on the amount of outstanding principal balance. During year 1, payments can range from ($520.83) to ($2271.16), with the maximum payment starting with the 9th payment. Thereafter, a fully amortizing 30 year fixed rate loan based on $400,000 loan amount would have approximate monthly P&I payments as follows: 30 year = 360 payments of $2271.16. Rates current as of 5/4/2022.  Payment estimates do not include amounts for taxes and insurance; therefore the actual payment obligation will be greater. Rates are based on borrowers’ ability to qualify and are subject to market fluctuations which may change the rates without notice. 8 interest only term only available for loan amounts under 647,200. Loan amounts 647,200 and above will have different terms. This example is for demonstration purposes only and is not a commitment to lend. Rates, terms and conditions are subject to change without notice.

Kevin Yamaya
Senior Mortgage Banker
Mobile: 612.720.4146
NMLS #400490