The Peoples Community Bank
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Mortgage Services

Construction Loan

Building a new home is enough of a hassle. Don't compound your worries with the wrong construction loan.

We offer up to 6 months on an interest-only loan.  If applicable, your home's appraisal will take into account the sweat equity you intend to contribute to the construction process. Once your home is complete, we'll convert your construction loan into a fixed or adjustable rate mortgage with regular monthly principal and interest payments. If you become worried about rising rates during the construction process, we can rate-lock your permanent mortgage up to 90 days prior to end of construction. Construction rates and closing costs are very competitive and interest begins to accrue on your loan only when draws or disbursements are made on your account.