Who offers construction loans in Washington state?

WaFd Bank
WaFd Bank is unique when it comes to construction loans and home building financing ​in Washington. With our All-in-One Construction to Permanent Loan, construction and permanent financing are conveniently rolled into one loan, so your permanent interest rate is locked in before you break ground.

What is the best way to finance new home construction?

FHA Loans. If you’ve got only minimal cash to make a down payment and your credit history has a few blemishes, a federal government-backed loan is most likely your best choice. FHA (Federal Housing Administration) loans allow down payments as low as 3.5 percent along with generous credit underwriting.

What is a FHA construction loan?

What is an FHA construction loan? An FHA construction loan is a mortgage that allows you to roll in the costs of building a home from the ground up. There are two types of FHA construction loans: the construction-to-permanent loan and the FHA 203(k) loan.

What is the average interest rate on a construction loan?

4.5 percent
What is the average construction loan interest rate? At the time of writing this, depending on the lender, 4.5 percent is a typical interest rate for construction loans. That’s about one percent higher than a typical rate for mortgage loans during the same time period.

Where can I get a construction loan in Washington State?

WaFd Bank is unique when it comes to construction loans and home building financing ​in Washington. With ourAll-in-One Construction to Permanent Loan, construction and permanent financing are conveniently rolled into one loan, so your permanent interest rate is locked in before you break ground.

Is there a Construction Bank in Washington State?

We handle all draws and inspections during construction. WaFd Bank is unique when it comes to construction loans and home building financing ​in Washington.

Which is the best bank to get a construction loan?

When it comes to construction financing, Timberland Bank’s construction loan programs are widely regarded as the best-of-kind in the industry. You have the confidence of knowing that our programs have been tried and tested by thousands of satisfied home builders in communities throughout Washington.

Can a construction loan be rolled into a permanent loan?

With ourAll-in-One Construction to Permanent Loan, construction and permanent financing are conveniently rolled into one loan, so your permanent interest rate is locked in before you break ground. That means no requalifying or second appraisal after your home is built.