New Home Construction or Home Renovation Loans with Flagship Bank

Dreaming of a new home is an American pastime and building a new home to your exact specifications is an exciting process. 

We offer a customized and efficient process to help with the home renovation loan process. 

• Lot Acquisition Loans
• New Home Construction Loans (Jumbo Construction Loans are a particular strength)
• Acquisition, Teardown, and Construction Loans
• Remodeling Construction Loans
• Bridge Loans

We take the time to understand your plans. In some cases, a bridge loan is used when the completion of your new home depends on the sale of your current home. It allows you to start construction now and bridges the gap in cash down payment monies until your existing home is sold. Moreover, we work to minimize the potential duplication of closing costs between the construction, or home renovation loan process, and the permanent secondary mortgage market.

Our experience financing tear-down projects and new home construction around Lake Minnetonka, Wayzata, Eden Prairie, Edina, Southwest Minneapolis, Isanti and in many additional areas throughout the Twin Cities Metro Area gives us an increased knowledge and understanding of your construction project. Please contact us today to find out more information on how we can help you finance your new home.

Locating a Builder

Once your decision has been made to use your home equity or a home construction loan to build a new home, it is important to find a reputable home builder in your area:

• Housing First Minnesota (Association for Builders in Minnesota)
• Get referrals from friends, family and from real estate agents who specialize in new home construction.

The process of building a home is a personal and exciting process. Just like any other professional, you may want to work with someone who is highly qualified.

• Proven experience in building the type of residence you want and meets all state licensure and insurance requirements
• A solid reputation in the community and excellent references from past clients, suppliers, and local banks
• It may be beneficial to check with local agencies to verify there is no history of legal proceedings against the company and that no legal proceedings are pending
• A permanent business address

A new home construction or home renovation loan is a big step. We are always happy to help. If you would like to learn more about all the personal loan options, please check out our Guide to Personal Loans.