Have peace of mind knowing you have a whole year to complete the construction of your new home.
Make interest-only payments on the funds disbursed during your 12 month construction time frame.
You have the flexibility to make up to six draws on your construction loan at no additional cost.
Get your invoices paid faster with draw requests that are processed in five business days or less.
Lock in your rate and choose a repayment term that fits what you need.
Whether you close once with the One-Step or twice with a Traditional Construction Loan, our costs are low.
Review construction loan options, rates, and terms to find the best fit for you.
Calculate your estimated monthly construction loan payment to fit your budget.
We'll make things easy for you to get a loan to build the home you love.
Get pre-approved for your construction loan and then build it with confidence
Once you have an idea of your budget, the next step is to save for a down payment. Construction loans require a 10% down payment.
In preparation for your pre-approval, review your debt-to-income (DTI) ratio. Your DTI is the sum of all of your debt payments divided by your gross monthly income. An ideal DTI is less than 36%.
Check your credit score. Better credit reports and higher scores make it easier and cheaper to borrow.
To get started, schedule a meeting with your builder to discuss your vision and plan a build within your estimated budget.
Please gather the plans and specifications from your builder along with the construction agreement that specifies the cost of your house - including options and upgrades.
You will also need 30 days of pay stubs and two years of tax returns and W-2s.
Lock in your rate now with a One-Step Construction Loan and we will automatically convert your loan to traditional financing at the end of your 12-month build.
If you choose a Traditional Construction Loan, near completion we will work with you to finalize your traditional mortgage at the current market rate.
