A new home construction loan is a special type of loan providing financing for aspiring homeowners who do not want to buy an existing home on the market. Many people choose to build so that they can design there dream home. Bill Lavelle at Financial Bank specializes in new home construction loans in Dublin, Powell, and Columbus Ohio. For more information on construction loans or how to qualify contact Bill today at (614) 563-4086 or fill out the form on the right side of the page.
Residential Construction Loans
When the time is right to build a new home, The Bill Lavelle Mortgage Group can help borrowers finance their home construction projects. We offer flexible residential construction loans that address the specific needs of new homebuilders to help them build the home of their dreams.
Construction Loan Advantages
• Flexible disbursements: First Financials residential construction loans can be disbursed over time to pay builders, contractors, subcontractors or other materials/service providers.
• Builder choice: You choose the builder, and let First Financial approve your choice.
• One-time closing: We also offer a single closing, saving you time and money on closing costs and other fees. After construction is complete, your construction loan will transition to your permanent, long-term mortgage.
Available Financing for Construction Loans
We can lend up to 100% of the total cost of new construction, subject to qualification.
Construction Loan Eligibility
• Building homes from the ground-up and need construction financing
• First-time homebuyers or purchasers looking to buy new construction
• Compatible with our Physician & Professional loans
Principal residence construction only. All homes must be site-built construction.
Loan is disbursed in draws based on construction milestones and sufficient funds to complete construction. Borrower receives five draws, including final inspection.
Interest rate is locked in upfront. Payable monthly as interest-only payments until conversion to permanent financing.
Qualify for a Construction Mortgage today!
Bill Lavelle at Financial Bank specializes in new home construction loans in Dublin, Powell, and Columbus Ohio. For more information on construction loans or how to qualify contact Bill today at (614) 563-4086 or fill out the form on the right side of the page.
• We offer our Construction loans statewide in Ohio, Illinois, Indiana, and Kentucky