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Home Building Basics

If you choose to build your dream home rather than buying an existing home, Countybank Mortgage can provide construction or construction-permanent financing tailored to your construction specifications.   

What is a Construction Loan?

A construction loan provides short-term financing during the construction period with the convenience of a single close process, modifying into a permanent fixed-rate after construction is complete. Financing is allowed at 90% of the construction cost or home value with terms up to 12 months. 

Benefits to Building Your Own Home

  • Customize your own primary or second home
  • Purchase your lot or pay it off with a construction loan
  • Select your own builder (must meet bank qualifications)
  • Pay interest only during construction
  • Draws to builder are monitored by the bank with regular inspections