Construction Loans

• Single Closing: Save time and money with just one closing transaction before construction begins. This means only one set of closing costs!
• Initial Draw: Access funds through draws, starting with an initial draw at closing to get your construction project underway.
• Builder Benefits: Builders can start construction without upfront costs and create your dream home with the assurance of a loan before construction begins.

• Convenient Process: We partner with Granite to assist in project and contractor approval, ensuring your project is completed on time and within budget.
• Flexible Options: Available for both conventional and VA loans, providing you with the flexibility to choose the best option for your needs.
• Expert Support: Our team is here to guide you through every step of the process, from application to completion.

1. Project Approval: For purchase loans, the original cost of the lot is used. For refinance loans, the amount the lot is valued at is considered. The cost of construction must be provided by the builder/contractor.
2. Single Closing: Only one closing transaction occurs before construction begins, covering both the construction and permanent mortgage.
3. Construction Phase: Funds are accessed through draws, with an initial draw at closing to start the construction project.