Learn more about the other loan options available!
Congratulations, you've decided to build your new home from the ground up! Constructing your home is an exciting process and our lending team is here to walk alongside you every step of the way.
The Bank of Elk River offers a variety of solutions designed to help you finance the building of your new home. For more information on construction loans, speak with a construction loan lenders today!
What documentation may be needed during the process?
Things to know:
Estimated Fees:
Origination | $2,500 |
Appraisal | $450 |
Title Insurance | $750 |
Miscellaneous Title Fees | $835 |
Recording Fees | $92 |
Mortgage Registry Tax | $600 |
Flood Determination | $20 |
Credit Report | $10 |
Estimated Total* | $5,257 |
*Based on a $250,000 loan amount.
For more information about construction loans:
Main Street Office:
Beth Keller: 763.241.8559 - NMLS #539118
School Street Office:
Shawn Butler: 763.241.8556 - NMLS #932424
Otsego Office:
Corey Wemple: 763.274.6890 - NMLS #956625
Zimmerman Office:
Kelly Vold | 763.856.6800 - NMLS #863295