Living in the Capital Region offers access to a diverse set of builders and the ability to custom design a dream home that expressly meets your needs. When you work with BSNB on a loan for home construction, you’ll enjoy very competitive rates and expert customer care from the start of your building project through your final loan payment.


What is a new construction draw loan?
You’ve found the perfect location and chosen a builder.  Now you’re ready to start construction!  A draw loan from BSNB covers the construction phase of your new home.  During this time, BSNB will make scheduled payments to your builder, including a disbursement that will pay off any existing land loans that you have on the property.  You make interest-only payments to BSNB until your draw loan is converted to a final mortgage at the end of construction.

Benefits of a BSNB new construction draw loan:   

  • Interest only payments during construction
  • 6-month, 9-month or 12-month loans to cover the construction period
  • Well qualified applicants may borrow up to 85% of the home’s value with no mortgage insurance requirement
  • One application and closing to cover both the construction phase and final mortgage  
  • One set of closing costs, unlike other lenders that assess closing costs for the construction loan and then the final mortgage

What is a new construction end loan?
BSNB offers new construction end loans to customers who are purchasing a turnkey newly constructed home from a builder or developer that is self- financing the construction. The new construction end loan is simply a mortgage loan that offers extended rate lock protection throughout the period it takes to construct the home. BSNB offers interest rate locks for up to 270 days to provide peace of mind and protection from interest rate fluctuations during construction.

Benefits of a BSNB new construction end loan:  

  • Choose from stick or modular construction
  • Long- term rate locks up to 9 months (270 days)
  • Well qualified applicants may borrow up to 89.9% of the home’s value with no mortgage insurance requirement
  • Zero points required

All loans are subject to application and credit approval. Terms and conditions may change at any time.

Get Started

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View current new construction loan rates.

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