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.
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!
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.
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.