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Construction Loans


Building a new home can be an exciting prospect, but the construction loan approval process can be overly complicated and time-consuming. We’re here to make it easier. Village Bank Mortgage in conjunction with Village Bank offers you the local market expertise to make building your dream home possible. With established relationships in the building industry Village Bank Mortgage is a leader in the new construction home financing.

Lot Financing

Not ready to build yet, but want to buy your lot? Village Bank Mortgage can help! We’re happy to provide financing for qualified borrowers for up to 75% of the value of the property. Typically lot sizes are restricted to 10 acres or less and applicants must intend to begin construction within three years of purchasing a lot.

Construction Financing

Already have your lot picked out? Village Bank Mortgage can help finance the construction of your new home for up to 90% of the completed value. We help you work with your builder in establishing a budget for your new home and walk you through the process towards completion.

Construction-to-Permanent Financing

Our Construction-to-Permanent program allows you to convert your construction loan to one of many permanent loan products available. Loans are available for up to 90% of the completed value of your home. We coordinate the application process upfront and work with Village Bank to complete the construction process. Upon completion of your home, we then secure financing either directly with Village Bank or through our traditional secondary market sources.

Construction Renovation

Does your weekend to-do list extend well beyond the weekend when it comes to updating your current home? Village Bank Mortgage offers Construction Renovation loans for up to 90% of the value. Whether you’re looking to finance an addition or upgrade major systems in your home, Village Bank Mortgage has the know-how to see your project through.

Construction “Take Out” Loans

If you’re working with a builder that is providing the construction financing and the lot of your future home, Village Bank Mortgage offers construction “take out” financing. This program is helpful when the builder carries the cost of construction, and you simply pay-off the builder upon the completion of your home. In most cases, financing is available for up to 95% of the value of the home, however, depending on your chosen loan program, loans may be available up to 100% of the value of your home. Longer term rate lock-ins are available for up to 180 days to allow for the successful completion of your new home.

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