My New Blog

Construction Loan

August 30th, 2018 4:28 PM by Sam Kader



Introducing the one-close construction loan. Construct your custom-made homes with waterfront views, game rooms, granite counter-tops, mechanic's garages and more. Everyone has their own ideas of what a perfect home is like but they're are not always available on the market. This custom-tailored loan products offers you the chance to both build and finance the home of your dreams all with just one application and one closing. 

Features and benefits: 

  • Consolidate construction and purchase for only one set of closing costs and fees. 
  • Pay just interest-only payments during construction. 
  • Option to avoid re-qualification post-construction available. 
  • Loan amounts up to $3,000,000.
  • Rate can be locked at any time during the loan application/process.
  • Simple and flexible draw process with no set schedules. 
  • Renovations available on existing homes. 
Eligible property types: 

  • 1-unit site-built homes
  • Planned unit development (PUD)
  • Modular home (constructed in sections off-site)
  • Detached site condominium (must be fee simple interest for land and dwelling
  • Tear-downs & major renovation up to 12 month construction period only 
Download this flow chart to see process flows. 

Whether your dream home involves a little touch of Rehab Loan or building it from the ground-up with our Construction Loan, you have options with us. 

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