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 kind of loan features closing that is low which are compensated just once and offers mortgage loan that is locked-in during the time of application for both the construction and permanent part of the mortgage. Review the actions below and provide us a call to begin with building your perfect house.

Arrange a pre-qualification conference by having a Metairie Bank construction loan professional. A pre-qualification will figure out if the loan quantity you’ll need is at your financial allowance. Give us a call at 504-834-6330 or 985-674-2255, you can also e-mail us at mortgage@metairiebank.com.

Information on your ideal House

Thoughts is broken pre-qualified, finalizing your house plans and finding a builder are your steps that are next.

  • Building Plans – In purchase to start the assessment, your loan originator needs a collection of your property plans (blueprints). The plans need certainly to show elevation and dimension. You can easily submit your initial plans for appraisal purposes if you try not to make any major modifications to your impact of your home. We are going to require a duplicate of one’s building agreement finalized by a Louisiana certified residential specialist and 2 sets of plans (including foundation plan) and requirements during the time of application for the loan.
  • Find a trusted Home Builder – A signed and binding contract between the borrower(s) and builder. This contract lists the scope associated with work become finished because of the specialist as well as exactly exactly what price. An assessment may be bought through the builder’s estimate.
  • Requirements (specifications) – A listing of all the materials which are to be utilized throughout the construction procedure. “Construction Loans” okumaya devam et