Looking to build a new single-family home? US Lending has a great construction loan for you.
We offer two-time close construction loans. That means you’ll have one loan that funds the construction phase, and then, as your house nears completion, you’ll get a second loan that pays off the construction loan and becomes your permanent financing.
You pay only the interest (known as interest-only) during the construction phase, which can be paid in monthly payments or rolled into your loan. When the house is done the traditional loan begins – monthly payments go toward principal and interest, just like any other mortgage.
The great thing about our construction loans is the availability of an up to 12-month term (6 months longer than most mortgage lenders).
You can forward-lock your permanent financing right at the beginning or at any time during the process. You won’t have to worry about where interest rates will be when your home reaches completion.