Construction Loans
Construction loans allow you to build a house from the ground up. It is available for one family primary or secondary residences, with loan amounts from $150,000 to $1,500,000.
Features of Construction Loans
- Loan amount up to 80% of construction cost
- Flexible terms & easy draws
- Competitive fixed rate
- Interest only on the funds as they are disbursed
- 9 to 12-month term
- Cost to build includes all costs associated with construction, renovation
- Can be used for renovation, and/or tear down
- Available in Nassau, Suffolk, Queens, Kings, Bronx, Manhattan, and Staten Island counties
- Self-Builder allowed with 30% down payment and verifiable construction experience