Making your dream home a reality...
Through August 31, 2017 receive 1.95% Rate (2.342% APR)*
with our New Home Construction Loan
Always dreamed about a special home for your family? Timberwood Bank can help make that dream a reality with competitive home mortgage rates that can put your dream home within reach!
Timberwood Bank’s “Construction Only” financing allows home buyers the flexibility to explore permanent loan options while their home is under construction. During the construction period, you pay only interest on the funds that have been advanced. When your construction is complete, we convert your loan into permanent financing with the loan product that fits your needs. Timberwood Bank can provide guidance to save you money and keep things moving smoothly so that you can concentrate on what really matters: cabinets, flooring, hardware, light fixtures...
You can speak with any of our Mortgage Lenders by calling (608) 372-2265 or simply start the process here: Apply Now. Not sure if a Construction Loan is what you’re looking for? Check out our other Mortgage Loan options here.
*Annual Percentage Rate (APR) factors in fees associated with closing costs. Loan requires an approved General Contractor. Land purchases are not eligible for this APR, contact a Timberwood Bank lender to receive quote for a land purchase. Requires 80% LTV (20% down payment). 1.95% is a fixed rate loan with a max. length of twelve (12) months. This loan requires a monthly interest only payment. An example of a monthly payment for $250,000 construction loan would be $203.13 per month. Interest accrues only on the amount drawn on the loan, beginning the month after consummation. The final payment will be a balloon payment of principal and interest. Please consult your tax advisor for tax deductibility. Rate effective as of March 1, 2017 and valid for applications received by August 31, 2017. Offer may be withdrawn at any time and subject to change without notice. Other programs available. All loans subject to credit approval. NMLS# 399345