Mortgage Construction Loans
Are you planning on building? Check out Blackhawk’s "Construction to End-Loan" advantage!
From finding the perfect land, to ground-breaking to move-in, you’ll get special advantages when you obtain your lot, construction and end-loan (permanent mortgage financing) from Blackhawk Bank. Extended lock options are available on your permanent financing.
LOW, LOW INTEREST RATE
Ask for current rates
VARIABLE TERM CONSTRUCTION LOANS
Construction Loan Fees
- Standard Closing Costs Apply Plus 1 Refundable Point
- Refundable Point - Blackhawk Bank will refund 1 Point to you at the time of your permanent mortgage closing with Blackhawk Bank
Getting a Construction Loan
- You may borrow up to 95% of the total land and construction cost.
- The land purchase is the first payout on the construction loan, thus paid for at closing.
- Both the construction loan and the permanent loan are approved simultaneously.
- To reduce interest expense, funds from your down payment will be used prior to accessing the funds of the construction loan.
- All payouts will be made through a title company.
- All projects must utilize an established Building Contractor.
- Signed, Sworn Statement for Contractor
- Copy of Plans and Specifications
- Builder’s Risk Insurance
- Signed Construction Contract
- HUD-1 Settlement Statement / Closing Disclosure for Purchase of Lot