Programs offered?
We offer our financing for builders to construct spec homes they intend to immediately sell for profit. Our loans are for the construction term only. We do not provide permanent financing.
Program types?
Single-family residence, stick-built only. Appraisal based on maximum 5 acres with close, recent and similar sold comparables; non-rural.
Pre-qualification?
For information on pre-qualification, please call James Minarsich at 425-999-4172 ext 106 or email him at [email protected] .
States we lend in?
Bismark Mortgage Company is currently accepting loans from the following states:
Arizona
California
Colorado
Idaho*
Illinois
Michigan
North Carolina
Ohio
Oregon*
Texas
Utah
Washington
*Please note: In Arizona, Idaho and Oregon, Bismark Mortgage Company is a wholesale lender and only funds loans that are originated through a licensed mortgage broker.
Draws?
We have made the draw process fast, flexible and simple.
Funds can be requested at any time during construction and are disbursed as line items are completed.
Turn times?
After receiving the items requested with the pre-qualification, our final underwriting time is typically 8-10 business days.
Not offered?
Bismark Mortgage Company does not offer financing for:
- Land loans
- Commercial projects
- Manufactured homes
- Mobile home
- Earth homes
- Geodesic homes
- Condos
- Home additions, remodels or renovations
- Town houses with more than two units