Build your dream home in Texas with the help of a construction loan.
Building your custom dream home can be an exciting project but requires a significant financial investment.
WHAT IS A CONSTRUCTION LOAN?
A construction loan is a short-term financing option that provides funds to a borrower in installments as they progress through various stages of the construction process until the project has been completed. This type of loan is especially helpful for those who are building a home from the ground up. A common misconception is that a construction loan is the same as a traditional mortgage, but the two differ significantly regarding how they work and eligibility requirements.
WHAT ARE THE ADVANTAGES OF A NEW HOME CONSTRUCTION LOAN?
- Loans for new home construction in Texas
- Interest only payments
- Lot financing may be included
- 80% or lower of cost or appraised value
- Up to $1,000,000 loan amount
- Primary residence only
This is not a commitment to lend; you must submit additional information for review and approval. Rate, Annual Percentage Rate (APR), and terms are subject to change without notice. Certain restrictions apply to all programs. See your FLB Mortgage Loan Officer for complete program guidelines, loan application, applicable fees and annual percentage rates (APRs) for all loan programs. Full underwritten approval is required, and all loan approvals are subject to credit, income and asset review and approval. Bank NMLS#1215182
Secure loan financing for new home constructions in Dallas/Ft. Worth, Allen, Carrollton, Celina, Coppell, Frisco, Lewisville, Little Elm, McKinney, Mesquite, Plano, Prosper, Rowlett, and The Colony
. To start the application process, contact an FLB Mortgage Lender in Frisco, Texas today!
