574 SW 4th St,

Madras, OR 97741

Build your perfect home with Mann Mortgage’s customized Construction Loans!

Construction loans make building Your Dream Home surprisingly easy and affordable.

What are construction home loans?

The commitment of our Madras Office is to provide indispensable financial solutions to the residents of Metolius and Culver, Oregon. Amidst the array of services we extend, Construction Loans emerge as a pivotal resource for individuals and businesses in need of funding for their construction projects. Within this comprehensive guide, we aim to explore the intricate facets of Construction Loans, imparting essential knowledge, and addressing common inquiries that may arise during contemplation of this financial avenue.
Construction Loans play an indispensable role in expediting construction projects, whether one is embarking on the construction of a residential dwelling or undertaking the development of a commercial enterprise. At our Madras Office, our overarching mission is to illuminate the complexities inherent in Construction Loans, thus empowering you with the insights required to make well-informed decisions that resonate with your construction objectives. These loans serve as the cornerstone for turning your construction visions into tangible reality. Whether it’s your dream home or a commercial venture, our Madras Office is dedicated to providing expert guidance and unwavering support, ensuring the seamless and successful execution of your construction project.
Man and woman looking at building plans with two children happily running around.

Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.

The MannMade construction loan process.

  • Construction Loans are specialized financial instruments designed to cover the expenses associated with building a new structure or renovating an existing one.

  • Typically, these loans are disbursed in multiple stages, corresponding to different construction phases, such as land acquisition, foundation construction, and project completion.
  • Interest rates for Construction Loans can be variable or fixed, and they tend to be higher than those for traditional mortgage loans due to the short-term nature and associated risks of construction projects.

  • Lenders often require collateral, which can include the property under construction or other valuable assets, to secure the loan.

  • Upon project completion, the Construction Loan can either be converted into a long-term mortgage or repaid in full, contingent on your financial strategy and the terms agreed upon with our Madras Office.

Applying for a home has

never been easier

Our quick and secure process takes less than 10 minutes to apply.

Learn more about

construction loans

Construction Loans are typically short-term, carry higher interest rates, and are exclusively intended for financing construction or renovation projects. In contrast, traditional mortgage loans are long-term financial products for property purchases.

Lenders evaluate various factors, including your creditworthiness, income, project specifics, and the appraised value of the property, to establish the maximum loan amount you qualify for.

Construction Loans are versatile and can fund various projects, including residential homes, commercial structures, and significant renovations, provided they are construction-related.

The draw schedule outlines when and how funds are disbursed during the construction process. Lenders typically inspect progress before releasing funds for each construction phase.

Yes, alternatives include home equity lines of credit (HELOCs), personal loans, and construction-to-permanent loans, each with its own advantages and considerations. It’s crucial to consult with our Madras Office to determine the most suitable option for your specific needs.

“I was always in the loop on my loan process. I loved the one-time close construction loan. It saved me thousands to be able to lock in the interest rate.”

Josue Gabriel Lopez

Let's get you home.

Borrow up to 97% of a home’s value with as little as 5% down. Our local loan experts will help guide you.

If you have a loan officer you are working with, please select them from the list below.