For St. Francisville residents Diana and Wade Weller, house hunting had become a chore.
The couple had a big wish list, including an open floor plan, lots of bedrooms, abundant storage and a sprawling yard for their four children ages fourteen to three. Ultimately, they decided that building their dream home was a better solution than continuing to tour houses that didn’t fit the bill.
“For us, building a house ended up being more advantageous,” says Wade. “We found the right piece of property at the right time.”
The Wellers fell in love with a picturesque 2.6-acre lot in a small development off Highway 61 called Glynns Lane. They had plans drawn for a new house, and they took advantage of a convenient lending product from Bank of St. Francisville called a one-time close loan. Specifically designed for customers who want to build, the lending vehicle allows pre-approved borrowers to draw down a 12-month, interest-only construction loan, which then converts to a 15- to 30-year mortgage.
“Customers love it, because it has less red tape,” says Aimee Cook, BSF Vice President of Commercial and Mortgage Lending. “They only need to qualify once for the product to convert from a construction loan to a conventional mortgage.”
The Wellers, who completed their Glynns Lane home three years ago, aren’t the only homeowners in the development to take advantage of the one-time close. Brad and Melissa Brouillette and their two daughters decided to return to their native St. Francsiville from Gonzales after Brad’s career brought him back to the area. The Brouillettes wanted to build a home that suited their long-term needs, complete with 12-foot ceilings, five bedrooms and custom cabinets. They broke ground last summer, and plan to be in the house later this spring.
“This is our forever home,” says Brad. “We’ve enjoyed the process of watching it come together. Everything has stayed on budget, and the one-time close loan has helped us save a lot of money in fees.”
The Brouillette’s neighbors, Blake and Rebecca Guidroz, also used BSF’s one-time close for their Glynns Lane residence.
“It’s been pretty easy,” says Blake. “You can save because you don’t have to close more than once.”
The couple bought a seven-acre lot in the development a few years ago and began building their new modern antebellum home in 2017. They plan to move in by the end of March. Blake loves the new storage for his boat and hunting supplies, and Rebecca can’t wait to cook in her new kitchen. They also love the neighborhood because it features the bluffs St. Francisville is known for.
“Our lot is mostly hills,” Blake says. “That means I only have to cut about a half-acre of grass.”
For more information about Bank of St. Francisville’s one-time close loans and other services, please call (225) 635-6397 or visit this LINK to make an appointment.