Life Raft Loan
Was your home affected by the recent flooding?
When difficult times come along, we turn to our community for the strength and resources to help us through.
We've all been affected. Watching the river rise, filling sandbags, and facing the uncertainty of an evacuation. It's tough. But everything is easier when we work together.
We can't control the weather. But our bank certainly wants to do what we can to help.
If your home has been affected by the recent flooding in our beautiful valley, we'd be honored to be a starting point in the rebuilding process.
Whether you need a floor replacement, new drywall, or other repairs due to the recent floods, we are here to help.
We are offering reduced-rate loans with lower fees to help you in this difficult time.
Life Raft Mortgage Loan Offer Details:
- Maximum Loan term of 15 years
- A reduced rate of a fixed 7.00%
- A reduced Origination fee of $500.00
- The option to defer your initial payment for up to 6 months
Your Next Steps:
- Come in and we will connect you with one of our helpful loan officers
- Your loan officer will assist you with completing the required underwriting process, credit requirements, and application
- Work closely with your loan officer to secure and finalize your financing
Loan Example:
Payment for a 15-year loan term with 174 payments (6-month initial payment deferral) on a $100,000.00 loan amount, assuming a property appraised value of $112,000.00 (0% down payment / 90% Loan-to-Value (LTV)). The payment will be $917.53. The Annual Percentage Rate (APR) is 7.08%, with the following fees: Flood Determination $13.00 and Origination Fee $500.00.
It's a tough time. But you're not in it alone.
As you face tough decisions ahead, please reach out to our experienced team of local loan officers.
They want to make this time as simple and straightforward as possible. We'd be happy to help you and would love to put a smile back on your face.
Alamosa Main Office
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Dawn Martin
Loan Officer
NMLS: 417709
Department: Lending
Location: Alamosa Main Office
Phone: (719) 589-6653
West Alamosa Office
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Contact Me
Jesus Gonzalez
Loan Officer
NMLS: 2447821
Department: Lending
Location: West Alamosa Office
Phone: (719) 589-6653
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Contact Me
Kylie Stueven
Loan Officer
NMLS: NMLS # 2693790
Department: Lending
Location: West Alamosa Office
Phone: (719) 589-6653
Contact
Disclosure
All loans are subject to credit and underwriting approval. Other restrictions and limitations may apply. Loan products are structured as a 1st or 2nd Deed of Trust construction escrow mortgage with a 15-year term closed-end loan only. Lien position is dependent on existing property encumbrances. Rate is subject to change; based on market conditions. Actual down payment requirements and loan amounts vary based on individual property appraisals, loan-to-value (LTV) limits, and underwriting evaluation.
Optional 6-month initial payment deferral is available; interest continues to accrue during the deferral period and will be capitalized (added to the principal balance), which will increase the total balance owed and monthly payment amount starting in Month 7.
Requires a satisfactory property appraisal or appraisal evaluation and a formal contractor construction estimate prior to closing. Any insurance claim proceeds received for property damage must be applied directly toward reducing the outstanding loan balance. Origination fee is capped at a maximum of $500. Interest paid on loan may be tax-deductible. Consult with your tax advisor for further details. Terms and conditions are subject to change without notice. Equal Housing Lender. Member FDIC. NMLS#403374