Home Construction Loans
Today’s Featured Rates
Let Our Experienced Loan Officers Help You Break Ground
Use a Great Midwest Bank Home Construction Loan for building your dream home or making major upgrades to your current home.
Home Construction Loan Options
One-Time Closing Home Construction Loan
We combine your construction loan and permanent mortgage into one loan. You only have one closing and pay just one set of costs. Once your construction is complete you begin to pay a monthly mortgage payment. You may want to consider a refinance into a fixed rate upon completion.
Found the ideal spot for your dream home but not ready to build just yet? We offer flexible financing options so you can purchase the lot now. Then when it’s time to start building, we offer great Home Construction Loans. Ask a loan officer for more details on costs and down payment.
Jumbo Mortgage Loans
If you’re in the market to purchase or refinance a larger, more luxurious home, take advantage of a Great Midwest Bank Jumbo Mortgage Loan. It gives you the opportunity to finance higher loan amounts than the maximum conforming limits for a single-family (primary or second) home. The conforming limit can change from year-to-year and is set by the FHFA. When a mortgage balance is beyond that amount, it enters the category of a Jumbo Loan.
Like other mortgages, Jumbo Loans come in both adjustable and fixed rates, which are often slightly higher and have different underwriting requirements than their conforming counterpart.
Home Construction Loans with a Helpful Loan Officer by Your Side
Your dream home is waiting. Get started with a Home Construction Loan from your friends at Great Midwest Bank. Our knowledgeable loan officers have the answers to all your questions. Plus they’ll guide you through the process, step by step, from application to completion and beyond.
Home Construction Loan Application Process
We’ll take the time to go over all of your loan options with you and help you decide which Home Construction Loan is best for you. We’ll also ensure you understand what you can expect at every stage of construction.
Extremely helpful and timely throughout the process. Excellent communication and easily accessible by phone.