Residential Construction Lending
We offer construction financing based on "Finished Value", not your cost. That means we take the purchase price of the land, plus the contract of sale with the builder and add them together. We then have the property and the plans appraised to arrive at a "Finished Value". We base our lending off the "Finished Value" appraisal.
Our product also allows you to choose a "One Time" close or a "Two Time Close". These options allow you to maximize your equity and take advantage of current market pricing or simply lock in at the initial contruction closing.
Please contact one of our mortgage financing specialists to create the loan that works best for your particular situation.