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Construction Loans

Save Big Building Your Dream Home

image of a home

Building a home means spending a lot of time paying attention to the details, from blueprints to paint and everything in between. Luckily, choosing the loans that will finance your new home isn’t as complicated.

Simplify your financing with a construction loan and mortgage loan from Lewiston State Bank. Save big with no origination fee on your mortgage loan if you do your construction loan and long-term financing with us.* In addition to saving money, we’ll save you the headaches that can come with financing your dream home. You can count on the experienced lenders at Lewiston State Bank to offer:

  • fast approval
  • low, fixed interest rates
  • multiple free draws
  • exceptional service

One lender, one loan package, one dream home. Contact us today at 1-800-815-BANK.

Construction Loans - Details

Special offer for residential construction loans and mortgages:

4.49% interest-rate, owner-occupied, residential construction loans (12.13% or 10.62% estimated APR, depending on term) from Lewiston State Bank

Here’s what you’ll get with our low-rate, high-service, home-construction loans:

  • Low, fixed rate for a 6-month or a 9-month term‡ of the loan, which is a substantial savings off typical construction rates
  • 1.5% or 1.75% origination fee (1.5% for 6-month term or 1.75% for 9-month term)
  • An interest reserve will be set up to make the monthly interest payments during the term; the monthly interest payment will increase as the balance increases
  • A balloon payment will be due at the end of the 6-month or 9-month term
  • Fast approval
  • Multiple draws without additional fees
  • Exceptional service

You could save thousands more with no long-term mortgage origination fee when you get both your construction and mortgage loans from Lewiston State Bank.‖

A low, fixed rate for 6 or 9 months and no mortgage origination fee, combined with low building costs, can potentially save you thousands on your dream home.

Term Origination Fee Interest Rate Estimated APR
6 months 1.5% 4.49% 12.13%
9 months 1.75% 4.49% 10.62%

Frequently Asked Questions

The Answers You Need Now

How much will I save, what is the normal origination fee? On separate loans you would normally pay 1% origination on the construction loan and another 1% on the long-term mortgage.

How are you faster than the competitors? Local management of your construction loans allows for quicker receipt of checks on draws and no charge for additional draws so you save time and avoid construction delays.

Will I still have to fill out two loan applications? No.

Learn more about this offer by contacting a mortgage loan officer at 1-800-815-BANK

* The mortgage must follow a construction loan originated on or before 12/31/17. Only valid in Utah, Salt Lake, Davis, Weber, Tooele, Washington,Wasatch, Franklin, and Cache counties. Subject to credit approval.

† Annual Percentage Rate (APR). The estimated APRs are based on a $417,000 construction loan at 3.99% with Lewiston State Bank’s standard loan fees and either a 6-month or an 8-month term. The standard loan fees are: 1.5% (6 months) or 1.75% (8 months) origination, $600 (6 months) or $800 (8 months) inspection, $100 appraisal review, $15 flood determination, $5 credit report (per borrower), $150 document preparation, title insurance (varies), recording (varies), and appraisal (varies). Payment example: Assuming that a loan with standard fees and a balance of $417,000 was 50% disbursed for a 6-month term, the monthly interest payments are estimated to be $693 and the balloon payment is estimated to be $417,000. Subject to credit approval. Other discounts may be available if necessary for loans exceeding $417,000. Inquire for details. Only valid in Utah, Salt Lake, Davis, Weber, Tooele, Cache, Washington and Wasatch counties.

‡ An additional 2-month extension with a 0.25% extension fee may be available if necessary and subject to approval. The reduced-construction-interest-rate program lasts until 12/31/14.

‖ The 1.5% or 1.75% construction-loan-origination fee applies whether the mortgage loan comes from Lewiston State Bank or not. The no-mortgage-fee promotion lasts until 12/31/14. The mortgage must follow a construction loan and be originated on or before December 31, 2015. Only valid in Utah, Salt Lake, Davis, Weber, Tooele, Cache, Franklin, Washington and Wasatch counties.