Whether you’re building a new home or expanding an existing structure, United Bank & Trust has flexible construction financing solutions to pay your builder and get your project off the ground. As the builder reaches your agreed-upon construction milestones, the loan funds are drawn in phases. An independent expert closely monitors the construction process, only making payments when building stages meet satisfactory standards.
- Pay interest only during construction
- Defer principal payments until construction is complete
- Minimize your mortgage payments until your new home is complete
- Convert to either fixed or variable-rate permanent financing when construction is complete