Construction LoanConstruction Loan Financing
A Home Savings Bank construction loan can make it possible for you to build your dream home, or remodel or add on to your current home. If you're working with a smaller, independent builder or if the land is titled in your name, a construction loan is typically the only financing you'll need.
Our construction loans offer interest-only financing for the construction period. Funds from the loan are paid to the contractor as work is completed. Interest is paid monthly based on the daily balance each month. At construction completion, the borrower refinances to a permanent loan with significantly reduced closing costs.
Benefits of having a construction loan include:
Interest-only monthly payments
Easy transition to end loan financing
Personal step-by-step assistance
Call 282.6000 to talk with a loan officer and take advantage of this special rate!
*Subject to credit approval. Construction loans of $320,000 at 1.99% interest rate and 2.819% APR as of 3/18/2014. APR is Annual Percentage Rate. Monthly interest-only payments based on funds drawn during construction period. Payments may vary and a balloon payment will result at loan maturity. Construction loans are limited to single family, owner occupied, residential property. Property insurance is required. Flood insurance is required, if applicable. Interest rates are subject to change. Permanent financing is available for qualified borrowers.
Still getting paper? eStatements arrive sooner, provide archived access, and save trees. Sign up today.
Universal Banker II
NMLS ID#: 1080298
send me an email »
Home Savings Bank (608) 282-6000 • 1-800-282-5115
This site may contain external links. These links are not an endorsement of Home Savings Bank. © copyright 2012 Home Savings Bank