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Park State Bank
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Construction Loan

Image is of the trusses of someone's home and in the background is a blue cloudy sky.

Build Your Dream Home with confindence.


Whether you're financing a cabin or purchasing vacant land, we’ll help find the loan that is right for you. With a construction loan, you get two solutions in one: a short-term loan to cover the build and a long-term mortgage to finance your home once construction is complete. Our team will guide you through every phase, ensuring a smooth transition to permanent financing. Let’s turn your dream home into a reality—start today!

Park state Bank's Fixed Rate Construction Loan Program

30 YEAR FIXED RATE | 15 YEAR FIXED RATE

ONE TIME CLOSE UP TO ONE YEAR CONSTRUCTION PERIOD


  • ONE Origination Fee!
  • ONLY Pay MRT Taxes ONCE!
  • ONLY Pay Title Insurance Charges ONCE!
  • LOCK IN a FIXED rate!
  • ONE Set of paperwork & approval process.
  • ONE Closing & easy modification after project completion.
  • ONE Full year to complete project

30 YEAR EXAMPLE

The Annual Percentage Rate of 9.16% is effective 1/8/2025 and available for a limited time only.  Credit Score of 680 or higher required.  Maximum combined loan-to-value up to 80% or less.   Borrower pays all closing costs.

 A typical repayment example on $500,000 loan:   Interest on the amount of credit outstanding during the construction period will be paid monthly for 12 months, followed by 359 monthly payments of $4,023.11 and one final payment of $4,028.71. 

Payments do not include amount of taxes and insurance premiums, if applicable, the actual payment obligation may be greater. Rates and loans are subject to Park State Bank underwriting guidelines and credit approval. Other qualifying ratios and terms may apply.  NMLS #401406



15 YEAR EXAMPLE

The Annual Percentage Rate of 8.26% is effective 1/8/2025 and available for a limited time only.  Credit Score of 680 or higher required.  Maximum combined loan-to-value up to 80% or less.   Borrower pays all closing costs.

 A typical repayment example on $350,000 loan:   Interest on the amount of credit outstanding during the construction period will be paid monthly for 12 months, followed by 179 monthly payments of $3,344.78 and one final payment of $3,345.50. 

Payments do not include amount of taxes and insurance premiums, if applicable, the actual payment obligation may be greater. Rates and loans are subject to Park State Bank underwriting guidelines and credit approval. Other qualifying ratios and terms may apply.  NMLS #401406

 

Also...
  • Flexible loan terms during construction
  • Free pre-approval
  • Locally approved and serviced
  • Payments are made to Park State Bank
  • Experienced loan professionals
  • Easy application process
 
Have questions about Construction Loans? Contact us.

NMLS #401406