Botero Homes works with First National Bank of Pennsylvania. The experience of working together has been excellent. During this team work, we have refined the procedures to make the process more efficient.

The Loan: Once Botero introduces the client to the Bank’s Vice President, they take care of guiding the client during the entire loan approval process.  While complying with all the new regulations imposed on banks after the 2008 crisis, they make it as simple and expeditious as possible.

Terms: The bank finances about 80% of the total cost of the project including the land acquisition. It is a 12 to 18 month construction loan. At the end of construction, the bank transforms the initial construction loan into a “permanent loan” over 20 to 30 years based on the need of the client. As Botero’s preferred lender, the bank provides the most competitive financing solutions for our clients.

The Building Process: The bank prepares a “Draw Schedule” to disburse the loan in tranches as the builder finishes every phase of construction. The bank sends an inspector that carefully verifies the construction stage. Once approved, the bank releases the draw to a particular bank account opened by Botero for the client. The last draw is conditioned to the county issuing the occupancy permit.

Requirements by the Bank: In order to formally process the loan, the bank requires that Botero send the construction contract and the architectural plans accompanied by the receipt of the initial deposit made by the client, which is 25%-35% of the cost of the construction, at the discretion of Botero Homes. Projects of more than $2,000,000, Botero may accept the deposit to be paid in two installments: (1) the first installment of 50% when the construction contract is signed, and (2) the second 50% at the time of closing of the loan. The second part of the deposit is sometimes financed by the bank.


SMART FINANCING – Best of all worlds! The perfect loan and the perfect solution for today’s smart home buyer.

Lock in Today! Don’t miss out- lock in your rate before they go up at today’s low pricing. FNB offers 30 year fixed, 15-1, 15 year, 10-1, 7-1 products on all of our True One Time close Smart Home Loan. (land-construction to permanent)

Lower Closing Costs – Each county may be different so check with your sales officer.

Sell your home later! NO MOVING TWICE. You may reduce the permanent loan by any dollar amount prior to modification, and FNB will simply ‘recast’ the loan. NO RATE change, NO penalty and your new balance will correspond to your final reduced loan amount.

Contingency Options! Building a new home is exciting – and – because you have this smart financing – we recommend adding additional room into the loan for items you may buy or costs for land development. There is no charge and no interest for creating this for you.


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