- Competitive rates for home purchase, refinance, or construction
- Available for primary residences, second homes, vacation homes, or investment properties
- Accommodating financing terms, customized to your unique situation
- A wide range of financing programs available:
- Conventional loans
- Adjustable rate mortgages (ARMs)
- Fixed rate mortgages
- Balloon Loans
- Knowledgeable loan officers with experience in the local real estate market
- Local, Blue Ridge decision-making and processing
- Thorough, attentive service every step of the process
- Financing Options
Construction Loans provide a short-term, interim loan to pay for construction costs. Draws are disbursed at periodic intervals from a construction line of credit to the borrower and builder as the work progresses. Interest is repaid monthly and accrues only on the amount disbursed. Terms are generally up to 12 months. Upon completion of the project and the issuance of a final occupancy permit, the loan is refinanced into a permanent mortgage.
Land Only Loans
BRB has funds available to finance the purchase of or refinance of an existing lot or acreage. We offer a fixed rate up to 10 years or, if a longer repayment term is desired, we offer a 3-year balloon with a 15-year payment amortization.
Investment Property Loans
Blue Ridge also offers financing to construct, purchase, or refinance income producing 1-to-4 family residential property with terms up to 25 years.