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Construction Loans

closing date guarantee we guarantee your closing date or we pay you $1,000


finger pointing at building plans on tabletBuild with our New Construction Loan

Built to make it easy!

Let us help you finance your dream home. GTE will work with you to make the construction loan process simple and streamlined. Our 5/5 Adjustable Rate Mortgage will provide you with a competitive, low starting rate as you build. Then, for homes with loan amounts under $453,101, you'll also enjoy the benefit of converting your adjustable rate construction loan to a great-rate, fixed 30 year loan once building is completed. Plus, there's only 1 closing!

Great Benefits:

  • Start with a low-rate Adjustable Rate Loan. ARMs typically have a lower rate than fixed rate loans. Enjoying a lower rate while you are building can be a big benefit!
  • For homes with loan amounts $453,100 or less, once you’re done with construction, you’ll have the option to convert to a fixed rate.*
  • Enjoy interest-only payments for 12 months.
  • A single closing for building and moving in. 

Other Features:

  • This loan is also available for larger lending amounts including the Mini Jumbo (Homes $453,101 - $750,000) as well as the Jumbo ($750,001 - $1,250,000). Best of all, once construction is complete, if the rate  is lower at the time you're ready to move-in, we will honor the current construction conversion rate, so you get the best deal! Conversion to a fixed rate loan is only available on homes under $453,100. 
  • Rate caps = A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan. With a 5/5 ARM, the rate can only change every 5 years, which means added stability. Plus, the rate can only increase by a maximum of 2% each adjustment period. 
  • Index = 1 Year Libor
  • Margin = 2%
  • *Fixed rate conversion option available on a loan amount up to $453,100. Conversion fee applies.

Speak to a Home Loan Specialist today to learn more about this incredible product!

Meet the Team


*An example APR for a 5/5 ARM Construction Loan is 4.559%. An example monthly mortgage payment of principal and interest is $552. The example quotes are based on a property value of $200,000 and a loan amount of $100,000. The Annual Percentage Rates (APR) stated is an estimate and is intended for informational use only. Your actual APR may vary based on your actual loan amount. Please visit the Loan Consultant for additional information about our rates and fees. Rates are subject to change without notice. Your actual rate and/or points may be different, as many factors are evaluated for a loan approval.

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