Construction Loans

Building your dream home? Southern Trust Mortgage's construction loan program is superior to any other as it allows you to borrow up to 95% of the "as completed" value of the home. Most other lenders will only allow you to finance 70 – 80% of the actual cost. In certain circumstances, you may even be able to finance all of your closing costs, which reduces, if not eliminates, any out of pocket expense.

In order to qualify for a construction loan you must submit a loan application and be preapproved for the purchase of your new property as if it were already built. Then during the construction phase, you may remain in your existing home and only have to pay the interest on the outstanding balance of your construction loan. Southern Trust's Construction Lending Department will process all of the draws (payments) to your builder and contractors via wire. Upon completion of your home and receipt of a Certificate of Occupancy from the city or county, you will close on your permanent loan and begin to make payments according to the terms for which you were preapproved.

Construction Financing is available for primary residences and second homes. We even have programs for homeowners who are building additions or renovating their existing homes.

Southern Trust Mortgage is your financial partner when it comes to building or renovating your home.

Contact your Southern Trust Loan Officer today to break ground on the home of your dreams.