Construction Loans

What is a Construction-to-Permanent Loan?
A Construction-to-Permanent Loan covers both the building phase and long-term mortgage in one loan, so you only go through one closing instead of two.
 

• One loan and one closing for both construction and permanent financing
• Avoid extra costs and paperwork from a second loan
• Choose between fixed-rate or adjustable-rate options
• Option to lock in your permanent rate for up to 12 months during construction
• Funds are released in stages as work is completed
• Pay interest only on the amount used during the build
• Flexible draw schedules with easy online requests
• Payments are made directly to your contractor
• May offer low down payment options and programs without mortgage insurance
• Available for primary homes, second homes, and some investment properties

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What is a Construction-Only Loan?
A Construction-Only Loan is short-term financing used to build your home, typically paid off once construction is complete, often by selling your current home.
 

• Low down payment options starting around 5%
• Make interest-only payments while your home is being built
• No mortgage insurance required
• No escrow accounts for taxes or homeowners insurance
• Flexible draw schedule with easy online requests
• Funds are paid directly to your contractor
• Available for single-family, owner-occupied, and second homes
• Terms available up to 12 months

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What is a CB FlexBuild Construction Loan?
A CB FlexBuild Construction Loan gives you flexibility during the build or renovation process and more options once your home is finished—all with a single closing.
 

• One loan with a single closing for both construction and permanent financing
• Lock in a fixed rate during the 12-month construction period
• Choose from multiple long-term loan options once construction is complete
• No additional loan costs when transitioning to your permanent mortgage
• Funds are released in stages as work progresses
• Contractors can be paid directly from loan disbursements
• Can be used for new construction or renovation projects
• May allow for higher loan amounts
• Can be paired with our CB Swing Loan if you’re selling your current home

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What is a Lot Loan?
A Lot Loan allows you to purchase land now and build later, giving you time to plan your future home.
 

• Buy land even if you’re not ready to build yet
• Down payments starting around 20% for improved lots or 35% for unimproved land
• Loan amounts available up to $600,000
• Fixed-rate options with longer repayment terms
• Flexible timeline so you can build when you’re ready
• Improved lots typically include access to utilities or private water and sewer systems

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What is a Swing Loan?
Our Swing Loan allows you to use the equity in your current home to purchase your next one—so you don’t have to wait for your existing home to sell or deal with the hassle of moving twice.
 

• Access up to 85% of your home’s equity when working with a real estate agent
• Lower loan-to-value options available for private sales
• Make interest-only payments for up to 12 months while your home is on the market
• Secure your new home’s mortgage rate today
• No escrow account required for taxes or insurance
• Loan amounts available up to $600,000
• Simplified appraisal and title process for loans under $400,000
• Move directly into your new home with no interim step

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What is an EZ Renovation Loan?
An EZ Renovation Loan is a simple way to fund smaller home updates without going through a full construction loan process.
 

• Designed for minor home improvement projects
• Can be used when purchasing or refinancing a home
• Renovation funds are held in escrow and released as work is completed
• Faster and more straightforward than traditional construction financing
• May allow financing based on the home’s value after upgrades
• Work must be completed within a short timeframe
• Projects must be done by a licensed contractor

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