Construction Loan Programs

Red Oak Mortgage is proud to offer specially crafted loans for custom-crafted homes.

Waterfront views. Game rooms. Granite countertops. Mechanic’s garages.

Everyone has their own ideas of what a perfect home is like, but let’s face it—they’re not always available on the market.

This custom-tailored loan product offers you the chance to both build and finance the home of your dreams, all with just one application and one closing.

Not many lenders offer this unique loan product, so speak with a financial craftsman at Red Oak Mortgage about this simpler way to build and finance your perfect home.

Features and benefits

    • Consolidate construction and purchase for only one set of closing costs and fees
    • Pay just interest-only payments during construction*
    • Option to avoid requalification post-construction available*
    • Rate can be locked at any time during the loan application/process

Simple and flexible draw process with no set schedules

We’ll listen to what you’re looking for, and then work closely with you to craft a solution that can make it all happen.

*Conditions apply. Check with your Mortgage Consultant for details.

Renovation Loan Programs

Consider a HomeStyle Renovation Mortgage to update, expand, or remodel your home**.

This versatile product allows you to purchase a home and finance the cost of improvements, or refinance a home and finance the cost to improve the home beyond its current value.

At closing, all funds for your renovation will be escrowed in an interest-earning account. And, after all of the renovation work is done, any remaining funds will be used to pay down the principal balance of the loan. Not many lenders offer this unique loan product, so speak with a financial craftsman at Red Oak Mortgage about this simpler way to build and finance your perfect home.

Features and benefits

  • Finance your home and renovation costs with one low down payment
  • Escrow your renovation funds in an interest-earning account
  • Use to finance your soft costs (architectural services, engineering, permit fees, etc.)

We’ll listen to what you’re looking for, and then work closely with you to craft a solution that can make it all happen.

**Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.