home under construction

Home Builder Specials

Great Plains Bank Home Lending is your trusted mortgage partner.

Interest rates are on the rise which can make your buyers uneasy about purchasing a new home. In response to rising rates, we have created competitive marketing programs to get consumers past interest rate anxiety and help you get your homes sold.

We offer three unique programs to help customers save on their mortgages and feel confident about their next buy.

  • 4.99% Rate on a 3/3 ARM Loan with 3.5% points
  • 2/1 Buydown Program
  • Permanent Rate Buydown Program

*Not an offer to extend credit.  Subject to credit approval. Rate subject to change. (APR) Annual Percentage Rate.

This loan option is great for someone that is interested in a reduced rate upfront and needs security for first 3 years.  The loan will adjust every 3 years but has a cap of 2% with a life cap of 6%.  The adjustment period is based on WSJP +1%.  The loan can be refinanced without any penalty.
This loan program is great for someone that wants more security after the first two years of a reduced interest rate.  The cost for this is based on the current rate locked in and the loan amount. We are seeing it be between 2.25%-2.875% from the builder but it can’t be split up with the family paying a portion.

An example would be a rate that is locked in at 6.875%.
  • Year 1 the rate is 4.875%
  • Year 2 rate is at 5.875%
  • The remaining life of the loan is fixed at 6.875%.
This can be refinanced without a prepayment penalty, and if it is done within the first 2 years, the remainder in the escrow account for payments will be a principal reduction.
This program is for someone that is most likely going to live in the home for 7-10 years and wants a reduced rate for the life of the loan.  The builder has the option to pay as many points as desired based on the Interested Party concessions for secondary market loan programs.  This loan can be refinanced without a prepayment penalty.
Phone: 405-720-7064