Construction Loans

Construction Loans

That you want to build on or are interested in purchasing land and building a new home, Metairie Bank can provide financing from $100,000 to $4,000,000 through a one-closing construction loan where you can avoid the cost and hassle of closing twice whether you already own the land. This sort of loan features low closing expenses that are compensated only one time and offers an rate of interest that is locked-in during the time of application for the construction and permanent part of the mortgage. Review the actions below and present us a call to begin with building your perfect house.

Arrange a pre-qualification conference with a Metairie Bank construction loan specialist. A pre-qualification shall see whether the mortgage quantity you’ll need is at your financial allowance. Contact us at 504-834-6330 or 985-674-2255, or perhaps you can email us at mortgage@metairiebank.com.

Information on your perfect House

An individual will be pre-qualified, finalizing your property plans and locating a builder are your steps that are next.

  • Building Plans – In purchase to start the assessment, your loan originator requires a collection of your home plans (blueprints). The plans want to show measurement and level. You are able to submit your plans that are preliminary appraisal purposes if you try not to make any major modifications towards the impact of your home. We are going to require a duplicate of one’s building agreement signed by a Louisiana certified contractor that is residential 2 sets of plans (including foundation plan) and requirements during the time of application for the loan.
  • Locate a reputable Home Builder – A signed and binding contract between the borrower(s) and builder. This contract lists the range of this work become finished because of the specialist as well as exactly exactly what cost. Read more