Ready to build your dream home? First Bank’s construction loans can help you make your project a reality.
Construction loans are designed to provide financing for the construction of a new home. Once the build is completed, the loan can be refinanced into long-term financing in the form of a conventional mortgage.
During construction, your interest payments are deferred, and cash distributions to cover the cost of construction are made directly to the contractor as key stages of the process are completed. Ready to build a new home for your family? One of our experienced lenders will be happy to discuss construction loan options with you.
- Flexible downpayment options
- Cover the cost of construction and convert to long-term financing on completion
- Average time to closing: 4 weeks