Construction Loans

Plans are finalized, bids are complete, contracts are signed and the location is secured. You are just about ready to start building your dream home. The only thing left to do is contact Bluff View Bank for your construction loan!

Building your dream home will happen in 2 steps. First the construction loan, then once the home is built, it’s time for permanent financing.

After the construction loan is approved and documents are signed, you will move into the draw period. This is the 9-month timeframe to complete the building of your new home. As work is completed, contractors will need to be paid and we will make sure the funds are released to the appropriate parties. During the draw period, you will be responsible for monthly interest-only payments based on the amount you have advanced on the loan.

Benefits:

• Interest-only payments during the construction period. The payment amount is based on the loan amount you have advanced.
• Well-qualified applicants may borrow up to 90% of the home’s value.
• Competitive fees
• Local servicing of your loan

Once your new house is complete, you will need to find the best permanent financing option for you. This may be a conventional fixed-rate loan which includes 30, 20, and 15-year terms, or a Bluff View Bank in-house mortgage.

We have experienced mortgage lenders who will guide you through the construction loan process and answer all of your questions. We are just a phone call, email or in-person meeting away.

Lori Bork NMLS#2391980 608-534-5420 lorib@bluffviewbank.com

Tracey Von Ruden NMLS#555902 608-526-5524 traceyv@bluffviewbank.com