991 NE 3rd St,

Prineville, OR 97754

Build your perfect home with Mann Mortgage’s customized Construction Loans!

Construction loans make building Your Dream Home surprisingly easy and affordable.

What are construction home loans?

In Powell Butte, securing the financial foundation for your dream home or project often begins with understanding the intricacies of Construction Loans. Our Prineville office is here to guide you through this vital aspect of turning your vision into reality. In this guide, we’ll delve into the world of Construction Loans, shedding light on the essential aspects you need to know.
When you embark on a construction project, it’s crucial to comprehend the financial aspects involved. This guide aims to provide Powell Butte residents with a clear understanding of Construction Loans, making the process smoother and more manageable. Here, we’ll walk you through the basics, ensuring you’re well-equipped to take the next steps confidently.
Man and woman looking at building plans with two children happily running around.

Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.

The MannMade construction loan process.

  • Construction Loans are specifically designed to fund the construction of a new home or renovation of an existing one. Unlike traditional mortgages, they provide the necessary funds in stages as the project progresses.

  • Construction Loans typically have two phases. The first is the construction phase, during which you draw funds to cover building costs. The second phase is the transition to a permanent mortgage, which occurs after the construction is completed.

  • These loans often have variable interest rates during the construction phase, making it essential to understand how the rates will affect your payments. Our Prineville office can help you navigate this aspect.

  • Lenders generally require a down payment for Construction Loans, and this can vary. Our Prineville office can guide you on how to determine the right down payment for your project.
  • Qualifying for a Construction Loan involves meeting specific criteria, such as demonstrating your ability to repay, having a detailed construction plan, and working with approved contractors. Our Prineville office can assist in ensuring you meet these requirements.

Applying for a home has

never been easier

Our quick and secure process takes less than 10 minutes to apply.

Learn more about

construction loans

The primary advantage is flexibility. Construction Loans provide funds in stages, allowing you to pay contractors and suppliers as the project progresses, reducing the interest you’ll pay over time.

During the construction phase, interest rates are typically variable and tied to a benchmark rate. Our Prineville office can help you understand how these rates will impact your loan.

Yes, Construction Loans can be used for major renovations as well as building new homes. They are versatile and can be tailored to your project’s needs.

The transition usually occurs after the construction is completed, and the property is appraised. Our Prineville office will guide you through this process.

Yes, lenders typically require you to demonstrate your financial stability, provide a detailed construction plan, and work with approved contractors. Our Prineville office will help you meet these qualifications.

“I was always in the loop on my loan process. I loved the one-time close construction loan. It saved me thousands to be able to lock in the interest rate.”

Josue Gabriel Lopez

Let's get you home.

Borrow up to 97% of a home’s value with as little as 5% down. Our local loan experts will help guide you.

If you have a loan officer you are working with, please select them from the list below.