Building a home means spending a lot of time paying attention to the details, from blueprints to paint and everything in between. Luckily, choosing the loan that will finance your new home isn’t as complicated. Altabank’s experienced lenders will guide you through the financial side of the building process. We help keep your contractors moving with simple, fast, free draws so that you can get into your dream home on schedule.
Altabank is known across the state of Utah as having the exceptional construction loans. We have gained this reputation by offering a wide variety of financing options. Enjoy the flexibility and the savings by working with Altabank for all of your financing needs.
Types of Loans Available
- Lot/Land Loans
- Traditional Construction Finance + Long-Term Mortgage
Benefits of a Single Lender
- Lower your closing costs
- Coordinate closing dates
- Single appraisal (available for mortgages of $1M and above)
- Receive funds quickly
- Fast approval and local decision making
- Multiple draws without additional fees
- Exceptional service
|Terms of Construction Loan||Origination Fee for Construction Loan||Construction Loan Interest Rate*||APR* for Construction Loan
|Coupled with mortgage loan||1.50% for 12 months||4.29%||7.506% for 12 months|
*Interest rates are determined by a number of factors including credit score and loan amount.