Construction Resource Guide
Step 7: Loan Options
We have a variety of loan options to choose from. Here are some of the many we have to offer:
Construction Loans, in the simplest terms, are interim loans that allow you to build your home. These are typically nine to twelve month loans, during which time you pay only interest on the amount disbursed to your builder within any billing cycle. Once your home is completed you can choose from our many permanent loan options. We also offer Jumbo construction loans.
Our "One-Time Close" Construction/Permanent Loan eliminates the need to apply for a permanent mortgage after your home is built. Instead, you handle both the construction and permanent loans with one application and one closing. Plus you can lock in your rate at application and protect it through the construction term. Options include 15 or 30 year fixed rate loans and a variety of adjustable rate loans.
Lot Loans are perfect if you have found the ideal piece of real estate but aren't ready to build your dream home right away. Lot loans are a great short-term financing solution until you are ready to break ground. We have great variable rates on lot loans and when you decide to build we refinance your lot loan into your One-Time-Close construction loan.
