If you’re looking to build the home of your dreams we offer the perfect option with our construction loans. With this solution we can offer competitive rates, and we’ll work with you to make the financing process fast and as streamlined as possible.
Construction loans work a little differently than most of our other home loan solutions. Rather than issuing the entire loan at once, we pay out funds as construction is being completed. For instance, we may issue funds after the contractor finishes framing the house, pouring the foundation, or putting on the roof. Bank Midwest charges interest on the loan as the funds are disbursed.
Our Construction Loan offers:
- Flexible terms
- Financing up to 90% of project costs
- Lot equity counted towards down payment
- Reduced closing costs if permanent financing is taken out with Bank Midwest
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