Park State Bank & Trust

CONSTRUCTION LOANS

You are building a home and need financing for construction. We have several loan types to consider.

Lot Loans
You want to build your dream home and you need to buy the land. Park State Bank & Trust offers a variety of programs to help you buy land for future development. We’ll help you in every phase of the transaction, from land acquisition through construction to your permanent loan.
Consumer Construction Loans
At Park State Bank & Trust, you can borrow up to 80% of the costs associated with building your new home. The loan is structured as a draw down line of credit with interest only payments, keeping your monthly payments as low as possible. Call one of our loan officers today to discuss a custom designed construction loan to help you build your dream.
Single Close Construction Loans
This product allows you to construct and permanently finance your new single family, owner occupied primary or secondary residences with just one loan. You save money by avoiding two loan closings and the associated duplication of loan fees, closing costs, appraisals, etc... In addition, the uncertainty and interest rate risk incurred with two loans is eliminated since you are fully qualified and the interest rate is locked prior to beginning construction.

At Park State Bank & Trust, we understand that each loan applicant has different needs. We do not have a “one-size-fits-all” loan structure. Instead, we focus on listening to your ideas and coming up with a solution. We provide one-on-one customer service that you cannot get at larger institutions.

For more information please contact us, or visit our Woodland Park or Florissant location to apply. We are happy to come to you by appointment.

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