Construction Loans

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construction loans

One way to have your dream home is to build it yourself. That dream can be a reality with an affordable construction loan.

You'll save with a competitive rate, and interest-only payments during the construction phase. Your loan can then convert to a mortgage once construction is complete.

Benefits
  • Build your dream home affordably
  • Interest-only payments during construction
  • Converts to standard mortgage once construction is complete
  • For primary residence or second home construction
  • Competitive rates
  • Terms customized to you
  • Easy application process
  • Attentive, personalized service every step of the way
  • Fast decisions made here in Southeast Michigan
Two-Phase Program

This program utilizes two separate loans: an interest-payment only loan with a fixed rate for the duration of construction, and a standard mortgage once construction is complete. The borrower closes twice — once prior to construction, and again after obtaining a Certificate of Occupancy and final appraisal.