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WE BUILD DREAMS We can’t wait to get started on your project today!

At Bank of England Mortgage, we build dreams‌ your dreams. Our consistent record of growth and our ongoing builder relationships attest to our success in new construction lending. We take away the stress and hits to the builders pocketbook and create an easy step process to ensure homes are completed and ready on moving day. BOE knows new construction and is equipped with an expert team dedicated only to this unique opportunity. Trust us to overcome any challenges and deliver the most comprehensive communication in the industry, we are here to build dreams.

Bank of England Mortgage is a division of Bank of England. NMLS 418481. Member FDIC.


WHY PROJECT BOE?

1. OUR TRACK RECORD - We’ve been in lending since 1898 proving a solid foundation. 2. OUR DEDICATION TO OUR CUSTOMERS - We exceed expectations. 3. OUR COMMUNICATION SKILLS - We are thorough and solution architects.

4. OUR PASSION - We love what we do and the people we do it for. 5. OUR STREAMLINED PROCESS - We have an expert team dedicated to you. 6. OUR ADVANTAGE IN THE MARKET -

Housing inventory is low, but we have options.

7. OUR PRODUCT ARRAY - We have many loan programs to choose from that fit your needs. 8. OUR KNOWLEDGE - We know the construction lending world from early planning to the finishing touches.

Let’s get started today! We are building dreams, join us in the journey. Bank of England Mortgage is a division of Bank of England. NMLS 418481. Member FDIC.


COMPANY HISTORY

1898 Established with a capital stock of $10,000 on August 8, 1898, the Bank of England was the first bank in England, Arkansas.

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During the Great Depression when many banks failed, the Bank of England only closed during national bank holidays.

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1946 In 1946, Seth Boles started out as a cashier for the bank. He became president in 1962 and held that position until 1989.

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1989 Upon Mr. Boles’ retirement in 1989, his son-in-law, Gary Canada became president and still holds the position today.

In 2002, the bank extended its mortgage operations and established corporate offices in Little Rock, Arkansas.

Today,

the mortgage division has expanded

by offering the most comprehensive selection of mortgage options on the market, a mobile application and the newest technology for loan processes. From humble beginnings, we have grown to a company of over 1000 employees with locations in over 42 states.

Since its inception, the Bank of England has been a stable community bank and is dedicated to putting its customers first.

Bank of England Mortgage is a division of Bank of England. NMLS 418481. Member FDIC.


HOW TO GET STARTED

p Contractor’s Acceptance Questionnaire with Completed Contractors Authorization

p IRS Form W9 (most current form available: https://www.irs.gov/pub/ irs-pdf/fw9.pdf )

p Contractor’s License (or letter of exemption from Contractor)

p Copy of Contractor’s Driver’s License (for cross-referencing & validating contractor identity)

p Contractor’s Liability Insurance ($1MM minimum per occurrence) p Contractor’s Workers Compensation (Or Exemption Form)

p Copy of last 2 Years Tax Returns & Current Year P&L See reverse side for more info

Bank of England Mortgage is a division of Bank of England. NMLS 418481. Member FDIC.


MORE INFO INFORMATION YOURrelated APPLICATION: A Project Review is performedNEEDED to review theAT construction documents and work with the Borrower and Contractor to resolve any issues or conditions. The review will help determine project feasibility, loan structuring and acceptance to program guidelines. The Contractor may supply a detailed construction cost breakdown on their format OR submit the Detailed Construction Budget. The budget must have a detailed description of all elements of construction, scheduled values, show original costs with any pre-paid credits and deposits. Budget must show all soft and hard costs of the project. Approved building plans and permits should be submitted, however if they are not approved or issued, a letter of explanation describing the current status is required. Specifications may be on any industry standard form. If the property is located within a Homeowners Association (HOA), a letter from the HOA is required that the plans and specifications are acceptable. The construction contract must be Fixed-Price with no evidence of owner self-help or sweat equity included. Any Cost-Plus or Management style contracts will not be accepted. • Copy of Approved Building Plans (signed by Borrower and Builder) • Copy of Building Permits (on request of 1st Draw) • “Subject To” Appraisal Report (Provided by Lender) • Fixed-Price or Guaranteed Max Price Construction Contract (Fully Executed) • Fully Executed Land Contract (if land is being acquired with the transaction) • Specifications (HUD, AIA, or other Industry Standard Form) • Cost Breakdown OR Detailed Construction Budget • Homeowners Association Acknowledgement Letter from HOA

• Evidence of Builder’s Risk insurance for project ( Builder or Borrower can provide) • Evidence of Open Lot or In-Transit Insurance (Modular home only) • Evidence of Prepaid items and/or Deposits (cancelled check & paid invoice) • Copy of Loan Estimate (LE Provided by Lender) • Preliminary Title Report (Provided by Lender) • Initial Draw At Closing • Survey or Plot Plan (certified to all parties) • Engineer’s Certification of foundation plan (Modular homes only) • Additional program specific requirements may be required.”


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Project BOE Builders  

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