by Christy Heitger-Ewing
Hoosiers are no strangers to the epic highs and lows of building a new home, and securing a loan can be one of the more stressful parts of the process. Pairing with the right bank can make a world of difference.
Denise Abshire has worked in banking for 40 years and has been originating construction loans for 29 years, focusing primarily on high-end construction loans. While many of her fellow local mortgage loan originators (MLOs) closed $5-$7M in 2024, Abshire closed $21M.
“I always ask, ‘What can I do better for my client?’” says Abshire, who joined Security Federal Savings Bank in 2023.
Security Federal Savings Bank, celebrating 90 years of service, is a mutual bank that’s owned by its customers rather than stockholders, and is committed to always doing what’s best for their customers.
The bulk of Abshire’s work is in helping clients who are building custom homes in high-profile areas like Chatham Hills in Westfield, Holliday Farms in Zionsville, and Asherwood in Carmel. Ben Davis, owner of BBG Construction, relies on Abshire’s work ethic and values to continuously bring his projects to life.
“Denise Abshire has taken exceptional care of my clients, and Security Federal Savings Bank has done an outstanding job on the turnaround for draws on every build,” says Davis.
While most people would prefer to stay in their current residence as their future home is being built, that can be challenging when it involves having to cover two mortgage payments. At Security Federal Savings Bank, Denise crafts tailored loan solutions for her customers.
Abshire worked with one couple who owned a $1M home and was building a $4M home in Asherwood. Before meeting with Abshire, the client talked to another bank who told them to come up with $800,000 (20% of $4M). Abshire explained that that wasn’t necessary as they could use equity from their current home without a down payment on the new property.
“We are always looking for creative ways to assist our clients” says Denise. “By making cash flow so the bank wasn’t asking for additional funds, we eliminated the down payment, we just took their current home and put a blanket lien on it,” says Abshire.
If you can’t qualify for a loan, the only option is to sell your house, store your furniture, and rent an apartment for months. This is a cautionary tale for current and future clients. Abshire knew a couple who did exactly that. Their mortgage payment was $1,600, and the home rental was $2,500 so they spent $900 more a month by going this route. “It took 15 months to build their new home; that was $37,500 down the drain in rental expense,” says Abshire.
She had a client who wasn’t going to get their 2023 bonus until February 2024. Because it was a substantial amount, Abshire suggested holding off on the loan application until the first of February so they could use the bonus as a down payment.
“I love not being a commission-based mortgage originator, I am able to do what
is best for our clients 24/7, whether it’s this month or 6 months from now” says Abshire.
Sometimes it involves going to the airport on a Saturday night to close a loan before a client’s flight. She’s all about providing exceptional private client service, as a former private banker. This is why 90% of her clients are by referral.
“Working with Denise at Security Federal Savings Bank on our new construction loan was amazing,” says Lynn Newkirk, new home construction client with Wedgewood Building Company. “Denise provided a friendly, personal touch that exceeded our expectations as new clients. We appreciated her experience and professionalism. Her support was proactive, and she guided us through the process efficiently.”
If you’re looking for a specialized financial solution to build your next home, contact Denise Abshire at Security Federal Savings Bank today. Call (317) 289-3192 or visit secfed.bank. The new West Carmel Branch is located at 10880 N. Michigan Road in Carmel.
