Construction Loans

Loan features: thinkbank.com

• Monthly payments during construction are interest-only on the loan amount advanced.

• Rate is locked up to 375 days prior to the close of the construction loan with a free one time rate float down option within 55 days of completion.

• Origination fee: 1% / capped at $1,500.

• Eligible property types: 1 unit owner occupied (primary and vacation homes).

507-288-3425

• Think retains servicing.

One-time construction closing

• Single approval process combines the construction loan and permanent loan.

• Lower loan costs. You save by paying reduced closing costs once at closing.

Other products available:

• Lot loans (origination fee is credited at time of construction).

• End financing available (for properties with builder-carried construction financing.)

*Thirty-one Year Construction Loan rate is 3.99% with an Annual Percentage Rate of 5.875%. Rate is current as of Jan. 1, 2023 and subject to change. Construction loans are available in the following Minnesota counties: Olmsted, Dodge, Mower, Fillmore, Winona, Wabasha, Goodhue, Hennepin, Carver, Scott, Dakota, Ramsey, Washington and Anoka. Example is based on a $300,000 mortgage loan with a $1,500 origination fee, a 20% down payment, a 12 month construction period, $248.75** monthly interest-only payment on construction advances, a 3.99% fixed rate during the construction period, and a 4.50% fixed rate after the construction period ends. Estimated $1,774.61 monthly payments after construction period ends include principle and interest. A one-time float down option is available during the final 55 days of the construction period based on the thirty-year fixed mortgage rate. Payments do not include amounts for taxes and insurance and the actual payment obligation may be greater. Origination fees capped at $1,500. Other closing costs may apply. Please call for rates and fees on loans over $726,200.

**Payments will vary based on the amount drawn. The example provided is based on $150,000, 50%.

ID 440195

South Rochester

03 $499,900

3260 Allison Ln NE — Rochester

Subdivision: The Neighborhood of Shannon Oaks

Description: The Neighborhood brings the best of both worlds: custom luxury homes with care-free living. Residents enjoy a convenient, carefree lifestyle on without the hassles and burden or lawn or snow care. Experience a true sense of community with amenities designed to foster relationships between friends, neighbors, and family.

Home Style: 2-Story

(Not Including Lot) N/A

Exterior: Hard Siding, Stone

Finished SqFt (Not Including Garage) 2300 Total SqFt (Not Including Garage) 2388

Meier Companies, Inc. (507) 696-8899 meiercompanies.com

Contractor License #BC698206

04 Lots Range from $85,900 to $260,000

This company has been a Member since 2002.

3087 Century Ridge Rd NE — Rochester

Subdivision: Century Valley

Description: The Century Valley neighborhood offers wooded walkout, daylight, and flat lots to suit your building needs. Expansive views of Rochester’s city skyline can be enjoyed from the lush, hilltop neighborhood. Proximity to dining, shopping, and entertainment combined with privacy make this popular subdivision a must-see.

Entry Type: Development

Amenities:

• Acreage lots

• Wooded lots

• City utilities

• Close to downtown

R. Fleming Construction, Inc. (507) 933-0289 rflemingconstruction.com

Contractor License #BC147028

This company has been a Member since 2012.

05

$899,999

3230 Bella Terra Rd NE — Rochester

Subdivision: Century Valley

Description: This beautiful home with a modern twist offers vaulted ceilings in the main living area with two stories of windows for amazing natural light. Home offers an impressive master suite with a walk-in tiled shower, main floor laundry, and a wet-bar in the basement. Enjoy your evenings on the deck off the back of the home.

Home Style: Rambler

Exterior: James Hardie

Finished SqFt (Not Including Garage) 3215

SqFt (Not Including Garage) 3420

R. Fleming Construction, Inc. (507) 933-0289 rflemingconstruction.com

Contractor License #BC147028

06 $385,900 (Including Lot)

This company has been a Member since 2012.

2772 Hawk Ridge Ct SE — Rochester

Subdivision: Hawk Ridge

Description: Many great amenities throughout home to include cozy gas fireplace, stainless steel appliances, half bath on the main, great dining space and steps to back deck. All bedrooms and laundry on the second level. Enjoy maintenance-free living and a community center, pool, and exercise room.

Home Style: Townhome

Exterior: Vinyl, Stone

Finished SqFt (Not Including Garage) 1680 Total SqFt (Not Including Garage) 1680

Bigelow Homes (507) 529-1161 bigelowhomes.net

Contractor License #BC431673

This company has been a Member since 1984.

08 $1,289,000 (Including Lot)

2643 Bentley Dr SW — Rochester

Subdivision: Scenic Oaks West 2nd

Description: Experience luxury living in this stunning 2-story home! Over 5,000 sq ft of custom finishes throughout. Open concept main floor with thoughtful kitchen and more. Upper and lower levels fully finished with bedrooms, bathrooms, large family room, exercise space, and more!

Home Style: 2-Story

Exterior: LP Smart Side, Stone

Finished SqFt (Not Including Garage) 5018

Total SqFt (Not Including Garage) 5018

Garage SqFt 884

Legacy Homes of Rochester, LLC (507) 281-9800 legacyhomesofrochester.com

Contractor License #BC769454

Number of Bedrooms 5 Number of Baths

This company has been a Member since 2022.