Construction Financing Loan Programs in St. Louis, MO
We offer a cutting edge construction financing program for those customers who need financing throughout the construction phase. Plus, we offer the added advantage to our builder customers of offering a seamless and efficient process. Below are general highlights of our construction to permanent financing for new home construction. This program is for "ground up" construction only. Refer to our Renovation Loan programs for information in regards to financing home improvement.
- 6 to 12 month interest only draw note
- The loan amount and loan to value will be based on the "after improved"
value of the home
- Floating Rate during the construction term (Prime Based)
- Bank will require construction funds to be disbursed by third party
- Bank will need to approve the general contractor hired to build home
- Owner occupied financing only
- Property must be located in the metro St. Louis or Orlando areas