755 SW 7th St B, Upper & Lower,

Redmond, OR 97756

Build your perfect home with Mann Mortgage’s customized Construction Loans!

Construction loans make building Your Dream Home surprisingly easy and affordable.

What are construction home loans?

In the scenic landscapes of Terrebone, the thriving community of Eagle Crest, and the picturesque region of Deschutes, where dreams of constructing your ideal property take root, understanding the world of Construction Loans becomes paramount. At our Redmond office, we’re not just a financial institution; we’re the architects of your aspirations, the builders of your dreams.
Picture your vision, transformed into reality, one brick, one beam, and one step at a time. That’s the power of Construction Loans, and we’re here to be your guiding light through this exciting financial journey.
In the pages that follow, we invite you to explore the intricacies of Construction Loans, much like an artist unveils their masterpiece. Discover how these unique loans pave the way for your construction endeavors. From the initial spark of inspiration to the final brushstroke of success, we’re here to ensure your vision comes to life.
Man and woman looking at building plans with two children happily running around.

Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.

The MannMade construction loan process.

  • Construction Loans are short-term loans specifically designed to fund the construction of a new property or major renovations on an existing one. They differ from traditional mortgages in that they have shorter terms and involve a more complex disbursement process.
  • There are primarily two types of Construction Loans: Construction-to-Permanent Loans and Stand-Alone Construction Loans. The former converts into a permanent mortgage after construction, while the latter requires separate financing for the permanent phase.

  • One unique aspect of Construction Loans is the disbursement process. Rather than receiving a lump sum, funds are released in predetermined stages as construction progresses. This ensures that the money is used for its intended purpose and reduces the lender’s risk.

  • During the construction phase, you’ll typically only pay interest on the amount disbursed. Once construction is complete, the loan converts, and you’ll start making regular mortgage payments, including principal and interest.

  • Qualifying for a Construction Loan can be more challenging than traditional mortgages. Lenders typically require a detailed construction plan, a strong credit history, and a substantial down payment.

Applying for a home has

never been easier

Our quick and secure process takes less than 10 minutes to apply.

Learn more about

construction loans

Yes, Construction Loans can be used for both new construction and significant renovations. However, the scope of the project and the lender’s policies will determine your eligibility.

Interest rates on Construction Loans tend to be slightly higher than those on traditional mortgages due to the higher risk involved. Rates can vary, so it’s essential to shop around for the best deal.

The disbursement process involves inspections and approvals at various construction milestones. Once a phase is complete, the lender releases funds to cover the associated costs.

It’s crucial to plan your budget carefully. If unforeseen expenses arise, you may need to cover them out of pocket or seek additional financing. Discuss potential overages with your lender beforehand.

The timeline for securing a Construction Loan can vary depending on factors like your financial readiness and the complexity of your project. It’s wise to start the process well in advance of your construction start date.

“I was always in the loop on my loan process. I loved the one-time close construction loan. It saved me thousands to be able to lock in the interest rate.”

Josue Gabriel Lopez

Let's get you home.

Borrow up to 97% of a home’s value with as little as 5% down. Our local loan experts will help guide you.

If you have a loan officer you are working with, please select them from the list below.