06/18/2026
We’d all love to pay cash for our homes, but it’s not always possible. If you need financing to build your home or take on a major remodel, you should know about these financing options.
- Construction Loans: Designed to provide short-term funding for the construction of a home, there are two main types. Construction-only loans strictly cover that stage and must be repaid upon completion of the build. Construction-to-permanent loans cover that phase and then can be converted to a traditional mortgage (with a fixed interest rate).
- Home Equity Lines of Credit (HELOC): If you’ve built up some equity, HELOCs qualifies you for a line of credit with a set maximum amount. This means you can take additional funds from your line of credit as needed.
- Home Equity Loans: Also called second mortgages, home equity loans are available to people who have built up equity in their home. Equity is the difference between what you owe on your mortgage and your home’s market value.
- Home Improvement Loans: This type of personal loan is specifically for improving a home. It’s an unsecured loan, which means it doesn’t require collateral but will come with a higher interest rate.
No matter which path you choose, we’re here to help guide you every step of your new construction project.