When You Are Serious About Building, You Need A Serious Bank. A construction loan is a short-term draw note, typically 6 to 12 months in length, used to fund the cost of building a home. The construction project is used to secure the loan. Monies are advanced as work is completed. Construction loans are made to both individuals and contractors. How To Get A Construction Loan:
- Pre-qualify for your permanent mortgage to determine how much you can spend.
- Choose a building site.
- If using a contractor, identify floor plan and building costs.
- If building your own home, identify floor plan and exact costs.
- Call PB&T Bank at (719) 545-1834, Toll Free 1-888-728-3550 or call your local branch.
- Personal, friendly and individual service
- Competitive rates
- Weekly draws