CONSTRUCTION LOANS

Are you interested in building a new home? If so, you may be wondering how to get started and just how this process works. Good news! You have come to the right place!

 

Here at Magnolia Mortgage, we have excellent programs that allow for someone to build a new home as well as purchase an existing home. This process can become confusing when you take into consideration all of the phases of building a home. However, not so with Magnolia Mortgage! You see, this is where our very experienced and skilled staff comes along side you and walks you through the total process.

 

Our staff will assist you to obtain an approval of the permanent loan and a construction loan. The construction loan will be paid out in the form of draws to the builder as the work is completed on your new home. Once the home and a final inspection are completed, we will then close the permanent loan and pay off the construction loan. And, this program works whether you already own a lot or not.

 

Through the years, we have closed hundreds of these loans and have honed this process so that it works beautifully. We have been fortunate to be able to watch many homeowners realize their dream of building and owning the home they have been able to help design.

 

If this interests you, simply go to “Apply Now”, fill out the short form and watch how easy the process can be.

 

* Notice:  We do not currently offer Lot only loans.

 

However, we can usually assist you in working with a bank for the lot and construction loan. Magnolia will issue a commitment letter to handle the permanent loan.

 

 

Licenses: Magnolia Mortgage Company, LLC is a HUD, VA and USDA approved lender and is licensed by the Alabama State Banking Department.

Magnolia Mortgage Company may not be able to lend in all states,

please contact us for availability.

 

© 2007 Magnolia Mortgage Company LLC   All Rights Reserved.

Licence Number Alabama MC 20938;    NMLS 70176;   
Mississippi LO-70176