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Construction and Renovation Loans

Construction Loan

A residential mortgage loan to help finance the construction of a new home. 

Best For You If:

You are ready to contract with a licensed builder for the construction of a new home.

Benefits
  • Loan amounts up to $1,500,000
  • Financing available for new purchase, refinance, or renovation of an existing home
  • Finance up to 90% of the sale price or your home’s “to-be-completed” value
  • Build on your lot or purchase a lot in a desired location for your construction project 
  • Single, one-time closing
  • Draw requests completed in timely manner with reasonable fees
  • Interest only payments during the construction period
  • Local underwriting and servicing, local mortgage bankers, and quick turnaround times for your project

All loans are subject to credit approval. Programs are available only to qualified borrowers. Not all applicants will qualify for all program benefits.  Construction periods vary by project size.  Please contact Level One Bank to learn more about the product highlights and the eligibility requirements. Programs are subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

Renovation Loan

A residential mortgage loan to fund home improvements and remodeling initiatives. 

Best For You If:  

You need financing to renovate an existing home.

Benefits
  • Update your home to reflect the latest design trends 
  • Expand your home to accommodate new bedrooms, bathrooms, and more
  • Incorporate handicap accessibility or energy efficiency improvements
  • Remodel to potentially increase the value of your home

Minimum of $5,000 in permanent non-cosmetic repairs required to qualify.  Property or foundation must have been in existence for at least one year and must be owner occupied, one to four unit family dwelling.  All loans are subject to credit approval. Programs are available only to qualified borrowers. Not all applicants will qualify for all program benefits.  Please contact Level One Bank to learn more about the product highlights and the eligibility requirements. Programs are subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

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