There are two types of home construction loans.

• Construction-to-Permanent: the initial construction loan rolls the loan balance into a standard mortgage. During construction, the payment is interest only on the out standing balance.

 

• Stand-alone Construction: the construction loan lasts for the duration of the construction period. Payment is interest only. When construction is finished, a new mortgage will pay off the construction debt.

 

1st Bank, Division of Glacier Bank offers both 12 month interest only Stand-alone  Construction loans and an All-In-One Construction loans providing a 12 month interest only period and which converts to a Principal and Interest payment at a specified date.

FIND OUT HOW MUCH YOU CAN AFFORD

 

The following calculators serve as helpful tools during the mortgage process.