Turn your plans into your home with our construction loan.
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Altra has the perfect combination of experience and local personalized service to help you build your new home.
We’re ready to assist by providing a short term loan with interest-only payments during the home construction period. The funds are disbursed to the builder as the work progresses and your monthly interest-only payment is based on the loan funds disbursed to date. When your home is complete you can refinance the construction loan to a conventional fixed rate or an adjustable rate mortgage loan.
During Construction
• Fixed rate / interest-only payments
• Loan terms available: 11 months
• Up to 95% of the appraised value of the completed home may be financed
After Construction
• Refinance into permanent home loan
• Choose a Conventional Fixed or ARM loan
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Find today’s best loan rate available in your area.
Apply for a Mortgage today!