Construction Loans

Thinking about building versus buying? Our construction experts can help guide you through every stage of the process, from lot purchase to permanent mortgage. 

It’s critical for both you and your builder to know exactly where your budget stands at every stage. Your loan officer will make sure that happens.

1. Work with a reliable lending partner. Your loan officer will help you narrow down your construction project options.
2. Pay only interest for 12 months. During the construction period, you’ll only be required to pay interest on the amount you’ve drawn to date.
3. Keep your mortgage here, no extra paperwork required. When construction is complete, you have the option to keep your Mortgage Loan with us or refinance into the secondary mortgage market.

Launch your home improvements project with our Purchase Plus Improvement (PPI) Program.

• One closing. Once the PPI loan closes, we place funds in escrow to be disbursed throughout the project. When the project is completed, your loan continues seamlessly. No need to come back for a second closing.
• Future value. Renovations add value to a home. We let you tap into that future value by asking our appraiser to consider the improvements you’ll make. Higher value equals higher loan amount. That means you get to keep more of your savings.
• Projects of all sizes. Our program allows projects up to $75,000. If the costs and budget go beyond that, don’t worry. We can set you up with a full Construction Loan.
• Local monitoring. Depending on the complexity of the project, we’ll either have it monitored by someone at the bank or our local construction consultant.