Nationwide Construction Loans
Have a construction loan question
Ask Our LendingLending Expert


Which loan is right for me?
Years
in the house		 Recommended Program
1 - 3 3/1 ARM, 1year ARM or
6 month ARM
3 - 5 5/1 ARM
5 - 7 7/1 ARM
7 - 10 10/1 ARM, 30 year fixed or
15 year fixed

Construction Loans


Construction/Perm Advantage (Upfront Rate Lock)
Offers customers who are building homes the flexibility of a a single close loan. Construction financing commonly involves two loans: one interim construction loan for the building of the home and one permanent loan for the completed home. The Construction/Perm Advantage Loan, however, streamlines the mortgage while locking into todays interest rates upfront.

Prime Rate Construction to Perm (Rate Lock or Float)
Protects you against rising interest rates while your new home is under construction by enabling you to lock your interest rate for up to 18 months or float. And if the market improves during construction, you can exercise a one-time float-down option at no additional cost to get the best rate. Or you can make a one-time switch to any eligible Mortgage product and get the current rate, at no additional cost.

Fixed Rate Construction to-permanent financing (Rate Lock or Float) One-time close, locked into today's low Fixed Interest Rates. Construction loans available in 40, 30, 20 and 15 year amortizations.

Adjustable Rate Mortgage Construction-to-permanent financing (Rate Lock or Float).
One-time close, locked into today's interest rates for 3/1, 5/1, 7/1, and 10/1 fixed to ARM loans. The ARM loans are a perfect choice if you desire a lower initial fixed rate for a 3, 5, 7, 10 year period. Interest only loans also available.

12 Month construction-only loans
1 point below the Prime Rate. If you want a loan that allows you to obtain your own take out financing or if you think someone might offer to buy your home prior to completion this is the perfect loan.

The above loans are available for qualifying as full documentation, stated income, no ratio and reduced documentation. Maximum loan amounts up to $8,000,000. Maximum LTV's for construction loans up to 100%. Call for details.

Request a Quote Today
Select your state
Hawaii Alaska Maryland Delaware New Jersey Maryland Delaware New Jersey Connecticut Rhode Island Massachusetts Connecticut Rhode Island Massachusetts Maine New Hampshire New Hampshire Vermont Vermont New York South Carolina North Carolina Virginia West Virginia Florida Georgia Alabama Mississippi Tennessee Pennsylvania Ohio Kentucky Indiana Illinois Louisiana Arkansas Missouri Iowa Texas Oklahoma Kanasas Nebraska South Dakota Colorado New Mexico Arizona Utah Wyoming Nevada California Michigan Wisconsin Minnesota North Dakota Montana Idaho Oregon Washington

STEP 1:
Receive Quotes From up to 4 Top Lenders in your area.

It's easy! Just complete the form and our home building specialist will call or email you up to 4 different quotes from the top lenders.
Type of construction project:
What is your estimated cost to build:
$
Contact Information [* REQUIRED]
First Name*
Last Name*
Phone:*
Best time to call:

10 Construction Loans Misconceptions

A land purchase can easily be added into the construction loan.
Testing
Construction loan rates are the same as all mortgages.
Testing
You have to make a payment during construction.
Testing
Construction loans are just as fast and easy to complete as any loan.
Testing
Most banks allow owner builder.
Testing
The largest lenders have the best rates and programs.
Testing
No money down construction loans are easily available.
Testing
All banks value construction loan projects the same way by appraised loan to value.
Testing
Most loan officers are capable of providing a construction loan.
Testing
Going directly to a bank is less expensive than working with a broker.
Testing


Other Important Links

Other Resources
HONESTe Online Member Seal Click to verify - Before you buy!