Experience is the key to a successful construction loan experience.  And with over 30 years of experience in construction loan lending, I can provide just that.  I have worked with every custom home builder in the Brazos Valley and have a proven reputation in our community.  I will work closely with you and your builder during your project from start to finish.  

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At City Bank, we offer multiple products to choose from. ​When financing the construction of a new home, we offer two options: one-time close (also known as construction-to-permanent or single-close) and a two-time close construction loan. These options differ in their process, costs, and flexibility. 

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• ONE-TIME CLOSE CONSTRUCTION LOAN: Combines the construction financing and permanent mortgage into a single loan with one closing.  The loan starts as a construction loan and then converts to a permanent mortgage after construction is finished. Advantages include convenience, and the ability to lock in an interest rate early. However, this option has less flexibility for changes, and potentially slightly higher interest rates.

• TWO-TIME CLOSE CONSTRUCTION LOAN: Involves two separate loans and closings: one for construction and one for the permanent mortgage. The first loan funds construction, and the second loan pays off the first and becomes the permanent mortgage. This option offers greater flexibility for adjustments during construction and the potential to shop for a better rate after construction. 

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The choice between these loans depends on your individual circumstances. Factors to consider include budget, desired flexibility, risk tolerance, the interest rate environment, and the complexity of your construction project.

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Let's schedule a call so I can help you navigate the best construction financing fit for you.  Apply below.