Home Mortgage Loans

Construction Loans

Not finding your dream home on the market? Build — don’t buy — the home of your dreams! Let us help you build your first home or add on to an existing home with the expert help of our local, Texas lenders. Get a competitive-rate Construction Loan from us and pay interest-only until the end of construction. Make your dream home a reality — contact us today. 

Summary

Build the home that you truly want to live in. Enjoy competitive rates, local decision-making, and interest-only payments with a Construction Loan from Kleberg!

  • Competitively low rates for your home construction project
  • Available for primary residence or second home construction
  • Provides more convenience, especially toward the end of the construction phase and the beginning of permanent mortgage
  • Pay off interest quicker
  • Make interest-only payments during the construction phase
  • Payments are made on the amount drawn on your loan
  • Construction draws applied in stages based on work completed

Call Kleberg Bank Mortgage if building a home is on your bucket list! Give us a call at 361-993-3223 and let us help you. 

Meet some of our Mortgage Professionals.

What is the Contruction Loan Process?

Step 1: PRE-QUALIFICATION

The first step is pre-qualification. Visit the Kleberg Bank Mortgage Center and let us help you determine your maximum budget and what type of loan is best for you.

Our experienced loan officer may ask you to bring some information about your employment history, assets and debt, and your income and expenses.

Step 2: LOAN APPLICATION

Find a location and select a builder. Then, we will assist you with the application process. After we receive your application and the required documents, such as plans for your home and a contract with your builder, we’ll arrange a meeting with you to discuss loan options.

Once you have applied we will review a Loan Estimate for your permanent financing, which will give you an idea of your monthly payment and how much money you’ll need to bring to closing. The last step in the application process is to order an appraisal.

Step 3: UNDERWRITING

Unlike many of our competitors, our underwriting staff is local. Once we receive the appraisal, your entire file, including credit and income information, is submitted to the underwriter for review and final loan approval.

Step 4: LOAN APPROVAL

When we get final approval, our construction team will provide you with a checklist of things to expect during construction.   Once underwriting is completed you will go to closing at the title company for the construction loan.

Step 5: CONSTRUCTION

You are almost there! Construction begins on your new home. During this time, your builder will make periodic requests for payment from your construction loan. We review progress reports on your home to fund those requests, based on the home’s stages of completion.

During the construction phase you will make interest only payments as the home is being completed based on the amounts you approved for draw. Once all monies have been paid to the contractor we will assist you with your permanent loan.