Build A Home We can help you build the house of your dreams.
When you're ready to build, we're ready to get started.
Ready to create your dream home?
For people who...
- Are looking for primary or secondary properties.
- Planning major renovations to their existing home.
- Want to buy land and build with one loan.
- Want interest only payments up to 12 months.
- Mortgage Loans for Medical Professionals
Features and Benefits
Plenty of options to get the loan that best fits you.
- One-time closing process.
- No additional modifications required.
- Discounted rate for direct debit payments.
- Up to 30-year terms available.
New Home Construction Loans
If you decide to build your home, Traditions Mortgage offers a Construction Loan product to assist you with the construction of a new home with as low as a 5% down payment. With competitive rates and terms, this loan takes you from groundbreaking through the building process, with interest-only payments due on the balance of the funds drawn each month for up to nine months.
Traditions Mortgage is dedicated to exquisite service. The team will work closely with you and your builder, staying involved throughout the process.
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What happens to my loan after construction is complete?
After the construction is complete, the loan converts to a permanent mortgage for the life of the loan. There's no need for an additional settlement, making the move into your new home less stressful.
If you are thinking about constructing a new home, speak with a Traditions Mortgage Loan Officer today about a construction/permanent loan.
Lot Loans
Lot loans are used to fund the purchase of undeveloped land where a primary or secondary residence will be built. Traditions Mortgage, A Division of ACNB Bank offers lot loans with competitive interest rates and terms for qualified applicants.
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Why would you need a lot loan?
When you've found the perfect parcel but haven't decided on a builder, a lot loan can help you secure the land before it goes off the market. Buyers who intend to delay construction on the new home until a later date find the flexible structure of a lot loan meets their financial needs and lifestyle.
Once the loan is secured, there's no need to rush to the construction phase. A lot loan allows borrowers to take the needed time and care in choosing the right architect or custom home builder for their dream home. Soon-to-be empty nesters or those transitioning to new careers or employers find lot loans an ideal way to finance the perfect piece of property on their timeline.
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How do lot loans differ from mortgage loans?
Mortgage loans are used to purchase move-in ready homes and generally have longer repayment terms. The residence serves as loan collateral. Lot loans are considered transitional financing and usually have repayment terms that are shorter than mortgages. The land serves as collateral for a lot loan.
Both lot and mortgage loans offer borrowers fixed or variable interest rate options, may require down payments and are subject to minimum collateral requirements. Loan details will vary by lender.
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Who qualifies for a lot loan?
Loan applicants with future plans to build their primary or secondary residence on a designated piece of property may qualify for a lot loan if they meet specific credit, income, debt, and asset requirements.
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What are the benefits of a lot loan?
- Knowledgeable loan experts: As a local lender, we understand the Maryland and Pennsylvania markets. Our expert mortgage team can partner with you during each stage of the home building process. We can help with your search for a qualified architect or builder that understands your needs and project timeline.
- Return to us for your construction lending needs: Once you're ready to build, we already know you! Eligible borrowers can apply for a construction/permanent loan which allows for interest-only payments on funds used during the construction phase. A simple loan conversion with Traditions Mortgage, A Division of ACNB Bank gives borrowers the ability to lock-in competitive mortgage rates during the building phase, removes the need to re-submit a loan application after the home is finished, and reduces stress with a one-time closing. Once your dream home is complete, the construction loan is then automatically converted to a permanent mortgage.
When you find the perfect spot to build your dream home, a Traditions Mortgage Lot Loan can be an affordable way to secure the land until you're ready to break ground.
Documents for Application:
Below is a list of documents needed for application.
- Sales or construction agreement
- If construction project, plans and specifications
- Copy of deed, including legal description
- Paystub from last two payroll periods
- Last two years of federal tax returns with W-2's
- If self employed:
- Personal and business federal returns from two tax years
- Current profit & loss statement and current balance sheet
- Deposit account statements from last two months
- Names, addresses and account numbers for creditors, banks, and investment firms
Buy a Home
Found the perfect home for your family? Let us help you buy it.
- Great for first time buyers, or experienced home buyers!
- Fixed or variable rates available.
- We even have special offers for mortgages to save you even more money.
Refinance a Home
Want to save money and get a better interest rate? Of course you do.
- Consolidate your debt.
- Little or no out of pocket costs.
- Access equity in your home for improvements.
Mortgage Loans for Medical Professionals
Special home buyer program for medical professionals in their field for less than 10 years.
- Special home buyer program for new doctors, dentists, nurse practitioners, physicians assistants and more.
- Up to 100% loan-to-value (LTV).
- No monthly private mortgage insurance and as little as 3% down.
Save $200 on mortgage closing costs
Did you know that you can save $200 on closing costs?
- If you have an Advantage Rewards checking account or an Advantage Rewards Plus checking account, you're eligible to receive $200 off closing costs for residential mortgages and home equity consumer loans and lines on a primary residence.
Community Heroes Program
- Helping local heroes like teachers, fire fighters, police officers, nurses, EMTs, paramedics, and active or former military personnel purchase a home.
- Reduced monthly mortgage insurance and as little as 1% down.
Get Started
Contact a Specialist
Complete the Mortgage Information Contact form to get started right away.
VISIT AN OFFICE
Our friendly, knowledgeable office staff can take your application at an office convenient to you.
Use our office locator to find an office near you.
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