While the idea of buying a home can be exciting and fun, real estate purchases come with their own unique challenges. Sometimes, even when you know exactly what you want, current market inventory just doesn’t match what your family needs. The solution? Consider building your own custom home!
To help you fulfill that dream, we offer short-term construction loans that can cover the cost of building. Our experienced loan associates will take the time to get to know you and your family, assess your unique needs, and help you find the loan that’s right for you.
How It Works: Applying for a construction loan is similar to applying to purchase a pre-built home. To determine the size of the loan, your builder will provide an estimate along with plans and a build schedule. Your loan associate will review those plans and help you determine the amount and duration of your loan. To cover material and labor costs during the process, payments are made to the builder or contractor at agreed-upon intervals. After construction is completed, you’ll have the option to convert your construction loan into a permanent mortgage. Interested in learning more about construction loans? Please speak with an associate. We’re always happy to help!