Your lender will need
to see a comprehensive construction budget so that it may evaluate and approve
the funds that are needed to build the home. To do this, you will already have
selected the lot and approved a final set of house plans and specifications for
the proposed home. You also need to have a construction contract with your home
builder.
Home Construction Loans
Building a new home or purchasing a home under construction is a
big commitment requiring time and money. Fortunately, we offer great solutions
for construction loans to help you save both.
If you are planning to build a new home...
The "One-Time-Closing Construction to Permanent Program" is approved and closed before construction begins. You'll save time and money with one closing, one set of closing costs and one construction loan.
Construction Permanent loans are available with fixed-rate or adjustable-rate mortgages. Buyers are charged interest on funds as they are drawn to build during construction.
The "One-Time-Closing Construction to Permanent Program" is approved and closed before construction begins. You'll save time and money with one closing, one set of closing costs and one construction loan.
Construction Permanent loans are available with fixed-rate or adjustable-rate mortgages. Buyers are charged interest on funds as they are drawn to build during construction.
