Lot Financing
Are you thinking about building a home?
Start by speaking with a Centennial Mortgage Loan Originator.
We offer Lot Financing up to 85% Loan to Value!
Benefits of a Lot Loan
• 1% Origination Fee
• Purchase now, and build later
• Loan is closed as a 5/1 ARM, with a 15yr amortization
Construction Financing
Thinking about building soon?
Start by speaking with a Centennial Mortgage Loan Originator.
We offer Construction to Permanent Financing up to 90% Loan to Value!
Benefits of a Construction to Permanent Loan
• No Origination Fee
• Single-close transaction, which results in less closing costs
• Lot Loan purchase and Construction Loan can be closed at the same time
• Qualified upfront to Investor Guidelines (FNMA/FHLMC/Jumbo)
• Re-qualified to Investor Guidelines upon completion and modified from an ARM Rate to a Fixed Rate
• Loan is closed as a 5/1 ARM, with a 12 month Interest Only period during construction
• In-House Underwriting, Processing, Closing and Construction Administration
• Borrower and Builder-friendly draw process
the minimum payment could be $2,182 or the maximum payment could be $4,892. Not including taxes, insurance, or mortgage insurance. The first twelve months are fixed with an interest only payment due on the funded balance of the loan. After the initial fixed period for the construction phase, the
Centennial Bank’s Physicians Progra m
In honor of your dedication and strong commitment to your profession, we are offering a customized loan program for you.
PROGRAM HIGHLIGHTS
• Up to 100% Financing for Primary Residence*
• Purchase or Refinance*
• Construction or Renovation Loans*
• Mortgage Insurance Not Required
• Second Home Financing Options Available
ELIGIBILITY*
• Medical - MD
• Osteopathic - DO
• Podiatric - DPM
• Dental Surgeon - DDS
• Dentist - DMD
• Optometrist - OD
*Restrictions apply, consult your mortgage loan originator for additional details. All products herein are subject to credit and property approval. Program terms & conditions including interest rates, annual percentage rates (APRs) and points or fees are subject to change without notice. Your APR will vary based on your final loan amount and applicable finance charges. Not all products are available in all states or for all amounts; consult your mortgage loan originator for additional details. There are no restrictions to the length of time since the medical professional has completed their residency.
Let us help you find the perfect loan to meet your personal & professional financial goals.
850.894.7138 | Cell: 850.728.9026
Centennial Bank’s Home Builder Incentive Program for Borrowers
Centennial Bank is proud to offer an exclusive program for Borrowers who purchase or build with a participating Home Builder. We partner with Home Builders in Alabama, Arkansas, Florida, and Texas. Builder must be approved as a participating builder, prior to borrower locking an interest rate with a Centennial Bank Mortgage Loan Originator.
PROGRAM ADVANTAGES*
• Lender Credit Eligible borrowers will receive a Lender Credit equal to 1% of the loan amount, up to $3,000 to be used towards closing costs and to lower interest rate.
• Comprehensive Eligibility Multiple property types are eligible for participation. Program applies to purchase transactions as well as construction to permanent loans. Loan programs include: Fannie Mae, Freddie Mac, FHA, VA, USDA, Portfolio, Jumbo, and Construction to Permanent.
Contact a Centennial Bank Mortgage Loan Originator today for additional information on the program and full details on Home Builder Program eligibility.
Centennial Mortgage A nity Program
Bene ts
Qualified borrowers can receive $1,025 in lender credit applied toward origination charges. This credit must be applied prior to other credits.
Law Enforcement
Full-time law enforcement employees serving in local, state or federal agencies. This includes police o cers, state troopers, deputies, dispatchers, probation o cers, detectives, administrative sta , etc. Exclusions: Temporary employees, contract employees, part-time employees.
Emergency Medical Services
Full-time employees serving in federal, state or local government emergency medical department or a private EMS department. Eligible workers include: emergency medical technician, licensed paramedic, emergency care attendant. Exclusions: Temporary employees, contract employees,, part-time employees and volunteers.
Fire ghter
Full-time employees serving in federal, state or local government firefighting agencies. Examples of eligible workers include: firefighter, fire educator, fire trainer, fire inspector, arson investigator, fire administrator. Exclusions: Temporary employees, contract employees, part-time employees and volunteers.
Nursing
Full-time and licensed or certified employee providing nursing at a: Public or private hospital or public or private practice clinic, Contract nursing, i.e., travel nursing care or home health nurse. Examples of Full-time employees include: Registered Nurse, Licensed Practical Nurse, Nurse Practitioner, Nurse Anesthetist, Nurse Manager, Physician Assistant, Nursing Assistant (CNA). Exclusions: temporary employees, part-time employees and volunteers.
Education
Full-time public school district employees and full-time state or federal accredited private/ charter school employees are eligible — including teacher, nurse, librarian, guidance counselor, janitor, cafeteria sta , teachers aide or administrative employees. Exclusions: substitute or temporary employees or academic levels beyond high school.
Centennial Bank Law Enforcement Employees Affinity Program
Are you serving as a full-time employee in local, state or federal law enforcement?
Centennial Bank would like to say “Thank You” with the Law Enforcement Affinity Program.
What is this program?
Qualified borrowers can receive $1,025 in lender credit applied toward origination charges. This credit must be applied prior to other credits.
Who is this for?
Full-time law enforcement employees serving in local, state or federal agencies. This includes police officers, state troopers, deputies, dispatchers, probation officers, detectives, administrative staff, etc.
Exclusions: Temporary employees, contract employees, part-time employees.
Eligible Borrowers to receive a lender credit equivalent to our Processing and Underwriting fees. Lender credit to be applied by Secondary Market upon processing and underwriting receipt and review of written verification of employment. Available to those Eligible Borrowers who satisfy one of the above criteria and who submit a mortgage application to Centennial Mortgage Loan Originator, after 1/1/24 and prior to 12/31/24. Employment will be verified through written verification of employment completed within 30 days of underwriting approval. Eligible property is the primary residence for the premises being purchased or refinanced upon closing. Affinity program cannot be combined with any other Centennial Bank incentive program (other than First Time Home Buyer). All loans must meet Centennial Bank and/or Secondary Market lending guidelines and additional restrictions may apply. All loans subject to credit and property approval.
USDA Rural Development Loans
Basic loan features:
- 100% financing
- Seller contribution up to 6%
- No down payment required
- Maximum loan amount up to 102% of appraised value
- Income limits and property eligibility requirements
- No prepayment penalty
- 30 year, fixed rate
Centennial Bank Dream Loan
Centennial Bank is excited to offer the Dream Loan program to borrowers who would not otherwise qualify for more traditional mortgage loan products such as FHA, VA, USDA/RD, Conventional Programs or Down Payment Assistance.
BASIC LOAN FEATURES
• Fully amortized fixed rate mortgage
• No Down-payment required - 100%LTV
• Home Warranty or 2-10 Home Warranty required on all loans
• Seller may pay ALL reasonable and customary closing costs & pre-paids if applicable
• Escrows required on all loans
• Mortgage Insurance is NOT required
• Property and/or borrowers must meet additional criteria based on subject property’s Area Median Income
• Loan amount subject to FHA maximum guidelines
• Purchase loans only
ELIGIBLE BORROWERS
• All Borrowers must occupy the property as their primary residence
• All Borrowers must complete a homebuyer education course through a HUD approved program or FHLMC home-buyer counseling list.
ELIGIBLE PROPERTIES
• 1 Unit Single Family, attached and detached properties
• PUD’s
• Condo’s (must meet FHA/FNMA guidelines)
CITIZENSHIP
• Eligible for US Citizens
• Permanent resident aliens,
• Must be lawful non-permanent residents of the US or Temporary Protected Status
• DACA - with proof of legal residency
• No foreign nationals
Manufactured Homes Loan Program
Centennial Bank is excited to offer the Manufactured Homes Loan Program to Borrowers.
ELIGIBLE TRANSACTIONS include purchase, rate/term refinance, Conventional, FHA, and VA programs.
ELIGIBLE PROPERTIES include types of manufactured homes classified as 1 unit, real property, and attached to a permanent foundation.
OCCUPANCY REQUIREMENT includes primary residence or second home.
Some restrictions & eligibility requirements apply. Credit & collateral are subject to approval. Program, rates, terms and conditions are subject to change without notice. Consult your mortgage loan originator for additional details. All loans are subject to credit and property approval.
Keep Centennial in mind as you support your customers’ dreams. Call to get started.
Mortgage Loan Originator Centennial Bank | NMLS#1638515 Tel: 850.894.7138 | Cell: 850.728.9026
Capital Circle NE
FL
PURCHASE & CASH-OUT REFINANCE*
• Available to US Service Members, Veterans and Eligible Spouses
• 100% financing available for eligible veterans with full entitlement.
• Competitive interest rates
• No monthly private mortgage insurance
• Closing costs may be paid by the seller
• No pre-payment penalty
STREAMLINE REFINANCE
• VA to VA refinance
• May be done with no money out of pocket
FHA 100% Financing
Product Benefits
• No income limits!
• Minimum FICO credit score of 620
• Down payment assistance for 3.5% or up to 5% of the home purchase
• Do not have to be a first-time homebuyer
• Fast approval without review delays.
• 18 months of post-purchase counseling for borrowers
Product Overview
2nd mortgage in addition to the 1st mortgage with repayable or forgivable payment options.
Repayable: This loan requires a monthly payment on the second mortgage.
Forgivable: This loan does not require a monthly payment on the second mortgage.
Stephen Caldwell
Jr. Mortgage Loan Originator
Centennial Bank | NMLS#1638515
Tel: 850.894.7138 | Cell: 850.728.9026
3110 Capital Circle NE
Tallahassee, FL SCaldwell@my100bank.com
Buy now and Refinance Later!
You found the home that’s right for you, so don’t stress about the rate. If rates drop, refinance to a lower rate and save on your closing costs with Centennial Bank’s Rate Secure Refi Credit Program. We’ll provide a Lender Credit up to $1025, when you refinance with us. Don’t let the rate stop you from buying the house you love.
All loans subject to credit and property approval.
Close the purchase loan with your Centennial Bank Mortgage Loan Officer from 7/1/24 through 12/31/24. If rates go down, make a new application with Centennial Bank so you can lock in a lower rate and close on your refinance by 12/31/2025, to get a $1025 Lender Credit.
Eligible loans must be refinanced as a Conventional, FHA, VA, or RD/USDA, for an owner occupied residence. Subject property address on the purchase application must match the subject property address on the refinance application. Cannot be combined with any other Centennial Bank incentive program. Lender credit to be applied by Secondary Market upon Processing and Underwriting receipt and review of eligibility. Eligibility will be verified and completed within 30 days of underwriting approval. Original loan being refinanced must make a minimum of six payments before it is eligible. All loans must meet Centennial Bank and/or Secondary Market lending guidelines and additional restrictions may apply.
Stephen Caldwell
Jr. Mortgage Loan Originator
Centennial Bank | NMLS#1638515 Tel: 850.894.7138 | Cell: 850.728.9026
3110 Capital Circle NE Tallahassee, FL SCaldwell@my100bank.com