Custom Construction and Renovation Home Loans
Your dream home is just a few blueprints away.
With Banner Bank’s construction loans, you can count on our team to guide you from application through project completion. Our All-in-One Custom Construction Loan offers short-term construction and permanent financing, conveniently rolled into one loan, and interest-only (plus taxes and insurance) payments are available during construction.
With a Banner Bank home loan, you'll get:
Features and benefits of an All-in-One Custom Construction Loan include:
- For construction or renovation projects
- One closing, with one set of closing costs and no exposure to rising interest rates
- Up to 95% loan-to-value—subject to private mortgage insurance approval for loans exceeding 80% loan-to-value
- Land or lot purchase can be included in the cost of the project
- Up to 12-month term during construction phase, fixed-rate financing upon completion
- Interest rate may be adjusted to the current market interest rate upon completion of construction (additional qualification is required—ask your loan officer for details)
- Fixed and adjustable rates available
- Once construction begins, you can talk to a real person and use Built, our online tool, to easily access the entire loan process, request loan draws, see key dates, check project status and more.
Home Renovation Loan program features include:
- Fixed rate terms available
- Borrow up to 95% of the home's value (may require mortgage insurance)
- Borrow up to $50,000 of your estimated renovation budget, plus 10% contingency
- Purchase or refinance options available for single family homes, condominiums and manufactured homes
Home Equity Lines of Credit
Installment loans or revolving lines of credit» secured by the equity in your home give you access to cash for repairs or unexpected expenses.
Home Renovation Loans
Whether you are refinancing your existing mortgage or buying a new home, home renovation costs can be combined into your home loan.
Secure the financing you need to buy the perfect spot for your new home.