Build your perfect home with Mann Mortgage’s customized Construction Loans!
Construction loans make building Your Dream Home surprisingly easy and affordable.
What are construction home loans?
Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.
The MannMade construction loan process.
- Construction Loans are specialized financial products designed to fund the costs associated with constructing a new building or renovating an existing one.
These loans are typically disbursed in stages, aligning with the various phases of construction, such as land acquisition, foundation laying, and project completion.
Interest rates for Construction Loans can be either variable or fixed, and they may be higher compared to traditional mortgage loans due to the short-term nature of construction projects and associated risks.
Lenders often require collateral, which may include the property under construction or other valuable assets, to secure the loan.
Once construction is complete, the Construction Loan can be converted into a long-term mortgage or repaid in full, depending on your financial strategy and the terms agreed upon with our La Pine Office.
Applying for a home has
never been easier
Our quick and secure process takes less than 10 minutes to apply.
Learn more about
construction loans
Construction Loans are short-term, typically carry higher interest rates, and are intended exclusively for financing construction or renovation projects. In contrast, traditional mortgage loans are long-term financing options for property purchases.
Lenders assess various factors, including your creditworthiness, income, project details, and the appraised value of the property, to establish the maximum loan amount you qualify for.
Construction Loans are versatile and can be used for a range of projects, including residential homes, commercial buildings, and substantial renovations, provided they are construction-related.
The draw schedule outlines when and how funds are disbursed during the construction process. Lenders typically inspect progress before releasing funds for each phase of the project.
Yes, alternatives include home equity lines of credit (HELOCs), personal loans, and construction-to-permanent loans, each with its own advantages and considerations. To determine the most suitable option, it’s essential to discuss your specific requirements with our La Pine Office.
“I was always in the loop on my loan process. I loved the one-time close construction loan. It saved me thousands to be able to lock in the interest rate.”
Josue Gabriel Lopez
Let's get you home.
Borrow up to 97% of a home’s value with as little as 5% down. Our local loan experts will help guide you.
