Your dream house won’t come from a cookie cutter. You have a vision of a home that is uniquely your own. Maybe your looking for a lot, or maybe you already own the perfect piece of land—and you’re just looking for an architect and a builder who can make your vision a reality. Financing new construction differs from other types of mortgages. A construction-to-permanent loan, or an owner-builder loan, usually has two components. Initially, the loan covers the costs of construction materials and labor—usually for a predetermined period of time. When the construction is finished, the loan converts to a mortgage on the home.

The first step in obtaining construction financing is to qualify for the long-term mortgage. Then, a mortgage consultant with construction loan experience will review your plans—blueprints, contractors and suppliers, etc.—before granting the short-term loan to cover your construction budget. A percentage of this is usually secured by cash and/or land.

We can provide more detailed information on our land loans, construction, and construction-to-permanent loan programs and help you determine which is right for you.