We’ll be there with you from beginning to end with the same concierge-level service that you’ve grown to expect from Regent Bank.
We will help you through the entire process. Contact our construction lending specialist to learn more.
A construction loan is a non-revolving, short-term line of credit up to a specified dollar amount that will be used to reimburse the builder for work completed on your home. The builder will send you invoices during stages of construction that you will submit to the bank with your approval to pay. The bank will verify that the work on the home has been completed, and then make a draw on the loan to pay the invoices. After your home is complete, the construction loan will be paid off with permanent financing.
Construction loans are considered short-term financing with a maturity date not to exceed 12 months. After your home is complete, the construction loan will be paid off with permanent financing.
The construction loan rates are tiered based on credit score. Please contact one of our construction loan specialists for today’s rates.
You will make monthly interest-only payments on what you have borrowed.
Yes, it is possible, as long as the loan amount requested still has sufficient equity to meet the banks loan-to-value guideline requirements.
Yes! The first draw on the construction loan will be to purchase the land. Don’t forget to include the price of the land in your construction cost estimate.
We do not offer it at this time.
*This is not a comprehensive list. Additional documents could be requested once underwriting begins.
Reach out to our dedicated and specialized construction mortgage team with any questions. They are ready and able to answer any questions you may have
Jennifer Graves-Hamm
VP Construction Loan Officer
NMLS#: 1179321, Regent Mortgage NMLS#: 464417