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construction loans

Build your dream home with flexible financing, interest-only payments during construction, and smooth transition to a long-term mortgage.

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Construction Financing Made Simple

At Lake Ridge Bank, our new construction and construction rehab loans are designed to make complex builds and renovations simple.

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Interest-only during construction

Pay only on what you use while your home is being built.

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Local draw process

Inspections and funds are managed locally for smooth, transparent progress.

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Easy loan conversion

Seamlessly switch to permanent financing once construction wraps up.

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Flexible renovation loans

Our construction rehab loans make financing your home updates, repairs, and home improvement’s easy.

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Personalized local support

Work with a lender who guides you through every step.

From the Ground Up, We’ve Got You Covered

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Lot Loans

Found the perfect spot for your next dream home? A residential lot loan helps you secure your land today.

Finance Your Future Build
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Mortgage Options

Once construction is complete, you’ll need a long-term mortgage. Learn more about our flexible mortgage solutions designed to fit your future home.

Plan for What’s Next
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Second & Vacation Homes

Dreaming of building a cabin, cottage, or retreat? Our loan options make it easier to bring your vacation property vision to life.

Explore Vacation Home Loans
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Home Equity Loans & Lines of Credit

If you already own a home, you may be able to tap into your equity to help fund construction or improvements on your next project.

Put Your Equity to Work

See Mortgage Calculators

Frequently Asked Questions

How is the value of the property determined for the loan?

Lake Ridge Bank orders an appraisal based on your building plans, specifications, and signed contract. The appraisal helps determine the overall loan amount and terms.

Can I use equity from a lot I already own as part of the down payment?

Yes. If you own the lot, its equity can be applied toward your down payment. The value is based on either a recent appraisal or the purchase price if the lot was bought within the past year.

Do I need a general contractor to qualify for a construction loan?

Yes, Lake Ridge Bank requires you to work with a licensed general contractor to oversee and manage your home build.

How does a construction loan work?

Construction loans are short-term loans that cover the cost of building your home. The loan term is typically 12 months. During that time, you’ll make monthly interest-only payments based on the amount that’s been drawn. Once construction is complete, the loan converts to a long-term mortgage.

How are construction draws handled?

Funds are disbursed in stages—called draws—through the title company as construction progresses. Your builder will request these draws, and they’re typically tied to project milestones. If any part of the project exceeds the allowance listed in your contract, you’ll be responsible for covering the difference when that draw is submitted.
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