Construction Loans and Lot Loans
Lending Options as You Build Your New Home
Let the mortgage lending experts at Premier Bank help you secure a construction loan or lot loan. You’ll have an experienced lender by your side to understand your wants and needs, help explain how construction loans work and find the best solution for you.
Build the home you’ve always wanted with construction and lot loans from Premier Bank.
Talk to a Premier mortgage loan officer about construction and lot loan options.
Construction Conversion Mortgage
A construction conversion mortgage is for new home construction, allowing multiple payments to the builder during the building process.
- Interest-only payments during construction (typically nine months)
- One closing and converts to regular financing upon completion of the home
Construction-Renovation Loan
Use for major home improvements to your current home, with multiple payments to the contractor during renovation.
- Interest-only payments during the home renovation phase
- One closing and converts to regular financing upon completion of the home improvement
Lot Loans
When you find the perfect location and the right lot, Premier is ready to assist with financing.
- Fixed and adjustable rate options
- As little as 20 percent down payment
- Loan amounts up to $250,000
- Down payment on lot is considered as equity toward your construction loan