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CONSTRUCTION & LAND LOANS

Start From the Ground Up

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Find your happy place

It’s hard to find the perfect home in the perfect spot. With our construction and land loans, you can control how and where you build your dream home.


Construction Loans

  • For primary residences or second homes
  • One-time close loan
  • 12-month maximum construction phase
  • 15-year or 30-year terms
  • Maximum loan amount is $484,350
Construction Loans

Land Loans

  • For vacant lots
  • Variable- and fixed-rate loan options
  • 15-year terms
  • Minimum loan amount of $10,000 and maximum loan amount $250,000
  • No commercial property allowed
happy people on a beautiful piece of land

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Disclosures

Available in MS, LA, AL, FL.

15-Year Construction Loan Payment Example: Construction loan for a 15-yr term with a loan amount of $150,000 and the rate of 4.375% – for the initial 12 months construction phase the interest only payment would be $273.44. Once the construction loan converts to the permanent loan, the payment would be $1137.92, to include principle and interest. (APR – 4.668%). Rate is valid as of 1/29/19 and is subject to change.

30-Year Construction Loan Payment Example: Construction loan for a 30-yr term with a loan amount of $150,000 and the rate of 5.00% – for the initial 12 months construction phase the interest only payment would be $312.50. Once the construction loan converts to the permanent loan, the payment would be $805.23, to include principle and interest. (APR – 5.179%). Rate is valid as of 1/29/19 and is subject to change.

Land Loan Payment Example: Monthly payments approximately $392.00 on $45,000 borrowed at 6.791% APR for 15 years. Sample payment does not include taxes.

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