Build your forever home.
A two-time close construction loan is two separate loans—a short-term loan for the construction phase and a long-term mortgage for the completed home. Once construction is complete, the mortgage will be considered a loan refinance, paying-off the construction loan.
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Loan Benefits
- 15% down payment for a primary residence
- 20% down payment for a second home
- Loan is a 12-month, interest-only construction loan at a fixed rate
- Get initial approval from a Broadway Bank Mortgage Loan Officer on permanent financing before construction begins
- Close on loan at the start of construction and a second closing to refinance the construction loan into a permanent mortgage
Additional Features
Get prequalified before you select a builder.
Make interest-only payments throughout construction. This interim interest is tax-deductible (consult your tax advisor).
Make interest-only payments throughout construction. This interim interest is tax-deductible (consult your tax advisor).
Learn More
Contact us to speak to a Mortgage Loan Officer and learn more about rates and pricing for a Two-Time Construction Loan.
Call us at (844) 200-0757 or
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Compare your Mortgage options.
We offer a variety of loan options to meet your needs.
We offer loans that meet almost every mortgage need, and our Mortgage Loan Officers are ready to go to work for you.
All loans subject to credit approval, verification and collateral evaluation. Rates, terms and conditions are subject to change without notice. Lending area and other restrictions apply.
