Construction Loans
Let’s start building.
Worry about your contractors, not your construction loan
Whether you’re building a new home, getting a new mobile home, or starting a major renovation, we’ll personalize your loan to fit your project.
Benefits
Pay interest only
You only have to pay interest during the construction period, helping you free up cash for other expenses during the 12-month loan term.
Two-part closing process
The first closing will get you through the construction phase. Then, we’ll close your more conventional mortgage for “final financing” when the home is 100% complete.
90% financing
Finance up to 90% of the as-completed value or purchase costs (whichever is less).
|
Type |
Rate |
APR |
|
|---|---|---|---|
| Rates effective 10/09/2024 | |||
|
APR = Annual Percentage Rate. Rates can vary according to individual loan situations. Rates and lock periods are subject to change. The payment amount may be higher if escrows for property taxes, homeowner’s insurance, or mortgage insurance are applicable. |
|||
|
Type Fixed-rate |
6 to 12 Months |
Rate 7.750% |
APR 8.302% |
your payments.
Use our handy calculator to roughly estimate your closing costs and monthly payments.
Apply today
Disclosures
- 1.
-
-
APR = annual percentage rate. Payment examples do not include amounts for taxes and insurance premiums and actual payment obligation may be greater than illustrated.
-
- 3.
-
-
Construction loan payment example: A fixed rate loan of $180,000 fully advanced at a 7.750% interest and an APR of 8.302% is a $1162.50 interest-only monthly payment.
-