We can draw up the financing blueprint for your dream home
Building a house from the ground up requires a special approach to financing. At First National Bank, our lenders know how it works and we'll assist you every step of the way. Your first step is to bring First National Bank a construction contract signed by your builder or developer. Next, we'll use a number of factors - including start and completion date - to structure your financing. After your developer begins work, we'll move things forward by releasing funds at the appropriate time for each construction phase. And when you're ready to move in, your Construction Loan automatically converts to a permanent mortgage.
Details include:
- Short-term financing for new home construction or major home renovations
- Both primary and secondary residences are eligible
- Competitive rates and closing costs
- Make interest-only payments during the construction process
- Expert assistance from ground-breaking to move-in date
- One closing covers both your construction loan and permanent mortgage
- Construction loans automatically convert to a permanent mortgage after home is completed, or after 12 months
Ready to get started? Call 1-800-564-3195 or find your nearest branch.
