Interim Construction Loans
Local loan decisions, quick & straightforward approvals—unbeatable advantages.
An Interim Construction Loan supplies funds to your builder for payment of materials and labor for the construction of a new home. Our experienced staff can walk you through the process.
What Terms
are Available?
An interim loan is short term (up to 18 months) and is paid off when the permanent mortgage loan is granted.
Eisenhower Bank offers two options for financing your custom built home.
One Time Close
construction loan.
This will save you money and time, since you qualify only once—the loan automatically converts to permanent financing once your home is complete. No re-qualifying, no interest rate risk, no additional closing costs.
Two Time Close option.
This is a great choice if you prefer a longer term permanent mortgage or have less than 20% equity in your property. We provide the short term interim construction loan and the permanent mortgage loan—plus a reduced origination fee for combining these two loans.
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How Much
Can I Borrow?
Eisenhower Bank will loan up to the amount of your permanent mortgage commitment or 90% of the cost.
How Do I Get Started?
Contact our Mortgage Center to begin the approval process.
You should have your permanent mortgage
loan approved before
you close on your interim construction loan.
Have a Question?
Contact our
Construction Loan Department
Call (210) 283-6633
or (800) 531-7650
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