Ready to build your own home? Go from ground breaking to house warming in no time with our flexible construction loans.
Key Features
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Competitive Rates
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Local Processing
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Quick Decisions
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- Competitive rates for your home construction project
- Available for primary residence or second home construction
- Provides more convenience, especially toward the end of the construction phase and the beginning of permanent mortgage
- Pay off interest quicker; payments are interest-only during construction phase
- Payments are made on the amount drawn on your loan sufficient to pay your builder
- Construction draws applied in stages based on work completed
- Quick, local decision-making and processing
- Attentive, friendly service from start to finish
5 Year Balloon Option
- 20% down payment
- Payments begin with principal and interest payments
- Low closing costs
- Earn interest on the construction funds being held
Two Phase Option
- 20% down payment
- Competitive interest rates and closing costs
- Flexible draw schedule
- Lower payments during construction
- Phase One – construction
- 12-month construction period
- Interest only payments on the amount disbursed each month
- Phase Two – final mortgage
- Fixed or Balloon Mortgage
- Maximum 30-year amortization
- Escrow available for taxes and insurance
