Financing
Bank of Springfield
Austin Fee
217-617-3576
afee@bankwithbos.com
First Federal Bank
Chris Miller
816.694.8497
chris.miller@ffbkc.com
Bell Bank
Danielle Hugunin
785.218.0251
danielleh@bell.bank
Need a creative solution?
Construction to Perm Loan:
Construction-to-Permanent Loan BenefitsA Construction Plus Home Loan offers a streamlined, secure path from blueprint to move-in—ideal for buyers and builders seeking flexibility, transparency, and peace of mind.
One-Time Closing- Combines construction financing and permanent mortgage into a single loan.
- No second closing, no duplicate fees—just one smooth transition.
Interest-Only Payments During Construction- Pay interest only on disbursed funds during the build.
- Helps manage monthly cash flow and preserve liquidity.
Seamless Transition to Long-Term Mortgage- Automatically converts to a fixed-rate mortgage once construction is complete.
- No need to requalify or worry about rate changes mid-project.
Comprehensive Coverage- Includes land purchase, construction costs, and contingency reserves.
- A full-spectrum financing solution under one roof.
No Builder Financing Required- No closing costs or interest carry for builders or contractors.
- Competitive pricing advantage without tying up credit lines or securing separate financing.
Name the Price, Get to Work- You and your buyer agree on a price up front.
- The bank pays invoices directly and keeps costs confidential—giving you the freedom to build without second-guessing.
Saves Money- Build today with just 5-10% down using a Construction Plus Home Loan
- Avoid paying PMI (Private Mortgage Insurance).
- True one-time closing—no additional fees or charges once the home is complete.
Use Your Equity Without Selling- If you qualify, some lenders allow you to use equity from your current home as your down payment—no need to sell first.
You have up to 12 months from contract signing to sell, with extensions available in 3-month increments for up to an additional year.
Some lenders will allow up to 80% of the appraised value of your home minus current mortgage.
Stress-Free Building- Lock your interest rate up front to eliminate the risk of rising rates.
- Modify your rate later for a flat fee —no full refinance required.
- Builder/Bank manage construction bills for you—so you can focus on preparing for move-in day.
