Build or Renovate

Take the next step toward creating your perfect space!

Our Single Close Construction Financing Package converts your construction loan into a permanent mortgage after the contractor finishes building your home. The permanent mortgage is like any other mortgage giving you the option to choose a fixed-rate or an adjustable-rate loan and specify the loan terms.

See how our Special Construction Financing Package can help you save!

Local loan approvals.
One closing reducing the fees you pay.
Draw request processed within3-5 business days.
You pay interest only on the outstanding balance during the construction phase.

^*^{When construction is completed, the loan will be modified to either a fixed or variable rate loan. Normal underwriting guidelines apply. Property insurance required.}

Contact a Mortgage Banker Get Pre-Qualified. Apply Online

Thinking of building your dream home or renovating?

Northwest Bank offers flexible construction loan programs to help make it happen! From financing new builds to major renovations, get the tailored solutions to bring your vision to life.

These programs are setup, so the borrower only pays interest on the funds advanced for the construction or renovation of the property, and not on the loan amount in total until the initial phase is completed and it is in permanent financing portion.

Short-Term

Construction

A construction loan is a short-term interest only loan that provides financing to cover the cost of building an owner-occupied residence.

Hybrid Loan

Construction-To–Permanent

A construction to permanent loan is a hybrid loan that allows for a 12-month interest only construction period to construct an owner-occupied residence. When the construction phase has been completed, the loan can roll into an adjustable-rate loan or can be modified into a permanent fixed rate loan.

Flexible

Renovation

This is a mortgage loan that allows a borrower to purchase a property or refinance an existing property and include the costs of making major renovations to the property. It allows the borrower to begin improvements to the property immediately after closing. This program offers a 12-month interest only phase that can roll into an adjustable-rate loan or can be modified into a permanent fixed rate loan.

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Are you interested in refinancing or purchasing a new home, but not sure if it is the right time? Sign-up for our Rate Watch and let us deliver the rates directly to your inbox.

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Try Our Mortgage Calculator

Buying a home is a big decision—make it easier with the right tools.

Take the guesswork out of home buying with our easy-to-use Mortgage Calculator. Whether you’re buying your first home, upgrading, or looking for a rural property, our tool helps you estimate payments and explore your options.

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Want to keep an eye on your credit score and get personalized tips for improvement? With Credit Sense, you can monitor your credit anytime—for FREE! Access your credit score* and report in your Online and Mobile Banking.

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