Building a House
Let's Make Your New Home Happen
Building a home can get complicated, so at First PREMIER Bank we work hard to make home construction financing as easy as possible. Our team works with you during every step of your construction and permanent home financing.
Step One
Before applying for a construction loan, you will need to have the following in place:
- Property address or legal description
- Land/lot purchase agreement
- Plans, materials list and estimated cost to build
Step Two
- Meet with a lender or start your application online
- Origination fee on construction loan only. No additional origination on permanent loan
- Monthly payments on only the money you have used
- A balloon payment may result if you pay only the minimum periodic payments. At maturity you will be required to pay the principal balance owing, including any fees or unpaid interest, in a single balloon payment
- Two contruction loan draws allowed per month
3-2-1 Buydown Loan
With a temporary buydown mortgage, homebuyers can pay a lower interest rate for the first few years of a home loan.
Calculate Your Payment
Estimate your payment with our library of online mortgage calculators and financial tools.
Apply Online
Get Home Faster
Our Commitment to You
- Keep your interests at heart
- Provide responsive, personal service
- Clearly explain the process and timeline
- Disclose fees in a forthright manner
- Ensure speed and efficiency from application to closure