A construction loan is a temporary line of credit that covers the cost of building a home or completing a major renovation project. With a construction loan, funds are paid by the lender to a contractor – not the borrower – as construction project milestones are reached. After construction is complete, the loan is either converted to permanent financing or paid in full.
Talk to us about what you envision for your new home, and we’ll help make it happen. Our construction loans can be used to purchase a lot and finance construction, or build on land you already own. You can also use a construction loan to make extensive renovations to your existing home, finance a fixer-upper, or even tear down and rebuild your dream home from the ground up.
Secure both the construction and permanent financing for your home in one easy closing process.
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Finance construction of your dream home with two simple loans: an initial, short-term construction loan followed by a separate, long-term mortgage on the completed project.
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