If you’re looking for a mortgage that doesn’t fall under the conventional or government loan categories, turn to BayCoast Mortgage. We offer several targeted loan products designed to assist a homeowner’s unique needs. You can learn more below to see if one of our specialized loan products may work for your specific situation.
Our Targeted Loan Options
At BayCoast Mortgage, we want to help you achieve your homeownership dreams. We understand that there are times when a more specialized loan product may better suit your life. Here are some of those options:
- Home Equity Loans: As a wholly owned subsidiary of BayCoast Bank, we’re in the unique position to assist you with a home equity loan for current homeowners who want to borrow money against their home’s equity. The money can be used for home improvements, college expenses, or even that long-awaited vacation.
- First-Time Home Buyers: If you’re a first-time homebuyer, BayCoast Mortgage offers programs and services that are specially designed for you. Before you buy your first home, we’ll walk you through our first-time home buyer loans and discuss your goals to ensure you receive the right option. Our expert loan officers will be with you each step of the way to guide you on your path to homeownership.
- Blanket Loans: If you already own a home and plan to purchase a new one before you sell the one you currently live in, our blanket loans may be a great option for you. These loans allow you to leverage your current home’s equity to purchase a new home before you sell your old one, increasing your purchasing power and making you appear like a cash buyer to sellers. Our loan officers can help you determine if a blanket loan is the best fit for you.
- Construction Loans: Have you always wanted to build your dream home from scratch? Our construction loans can help. These loans feature 31-year terms, with the first year being interest-only based on the funds disbursed. The loan is originated by BayCoast Mortgage and serviced by BayCoast Bank, so you know you’ll get the exceptional customer service you deserve. With our construction loans, the bank will hold back 100% of the construction costs, and advances are only made after the work has been completed and verified by the appraiser.
- Land loans: Before you build a home, you’ll need land. Since there’s no physical home to act as collateral for your loan when you buy an empty plot of land, the land loan process is different from a traditional mortgage loan. Our land loans are designed to help our community members receive the financing they need, and our expert loan officers are here to help you through each step of the process.
Choose BayCoast Mortgage for Your Next Loan
Whether you’re looking for a land loan or a blanket loan, BayCoast Mortgage can help. We offer a variety of mortgage financing solutions and are confident can help you with the perfect loan for your goals and budget.
If you’re interested in learning more about our loan options, please contact us today. You can also apply for a mortgage online at baycoastmortgage.com.