Construction Loans

Two reasons. First, we're the local experts. Our team understands every stage of the loan process—and we don't expect you to. We'll walk you through every step, answer any questions, and give you a friendly high-five at the end.

Second, because we're the local experts, we've simplified the loan process so it's as easy as possible for you. And who doesn't like simplified?

Yes! If you have good credit and enough funds to cover your equity requirement for the project, you’re in good shape. This is what the bank typically likes to see.

To build a new home, Plains Commerce Bank requires borrowers to take out two loans—(1) a construction loan and (2) permanent financing (a mortgage) when the home is complete. Once the bank knows the home construction is complete, they will request either a final inspection or a new appraisal depending on the time frame of the original appraisal. This is to verify that everything is complete per the original plans and specifications. The permanent financing is then put in place and the construction loan is paid in full.