Construction and Renovation Loans

Ready to build your dream home or purchasing a fixer-upper? 

We offer a variety of construction and renovation loans, so that you can roll the cost of building or improving your home into one loan! 


 
 
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Whether you're starting fresh or renovating your home, we know it can get complicated. That is why we offer multiple products to best fit your needs, all while saving you time and stress! 

 

View All Our Products Below 

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First Conventional Loans Image

Allows you to finance the cost of building your home up to 12 months, then converts to a traditional 15- or 30-year mortgage. All with one simple application and closing process, saving you time and money.

  • Construction loan can be used to pay for land, labor, materials, and permits.
  • Interest rate is locked during 9 or 12 month construction phase(or up to 24 months for Jumbo Loans), while you make interest-only payments. After construction, payments covert to traditional principal and interest mortgage payments.1 
  • Available for single family homes, modular homes, detached condominiums, and rural properties. 
  • Eligible for properties with up to 20 acres.2   

Second Conventional Loans Image

Finance the cost of improvements on a newly purchased or refinanced home, second home, or investment property into the loan amount.3

  • Conventional, fixed-rate loan
  • Variety of eligible improvements
  • Escrowed renovation funds held in an interest-earning account
  • Any remaining funds in escrow at the end of renovation are applied to pay down the principal balance of your mortgage 
Third Conventional Loans Image

Finance the cost of purchasing or refinancing and repairing a primary home.

  • Government-backed FHA Loan, with similar eligibility requirements
  • Variety of eligible improvements 
  • Escrowed renovation funds held in an interest-earning account
  • Any remaining funds in escrow at the end of renovation are applied to pay down the principal balance of your mortgage
Fourth Conventional Loans Image

Allows eligible veterans to purchase or refinance and repair a primary home using a single VA loan.4

  • U.S. Department of Veterans Affairs backed VA Loan, with similar eligibility requirements
  • Total amount you can finance depends on the estimated "as-completed" value of the home 
  • Renovations must improve the home's livability, use, and safety (not just aesthetic value). Some limitations on allowable improvements 
  • Contractors and builders must have a valid VA  builder identification number
  • Escrowed renovation funds held in an interest-earning account
  •  Any remaining funds in escrow at the end of renovation are applied to pay down the principal balance of your mortgage
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Disclosures:

The interest rate is locked prior to closing at the rate that will apply for the permanent phase of the loan. During the construction phase you are responsible for payment of the interest accrued on the amount disbursed to-date, billed on a monthly basis. If an escrow account is established for taxes and insurance, the monthly billing will include these deposits. 

2 For properties more than 10 acres and up to 20 acres, the maximum land to value is 35%. Properties with income-producing attributes are ineligible. 

The financed amount is based on the estimated home value after the renovations.

4 Subject to VA eligibility. 

Farm Bureau, FB, and the FB National Logo are registered service marks owned by and used by Farm Bureau Mortgage under license from the American Farm Bureau Federation. Farm Bureau Mortgage is a service-to-member institution which provides mortgage services to Farm Bureau members and others in participating states. See Affiliated Business Arrangement Disclosure for more details.

NMLS ID 2122423. Visit Licensing or NMLS Consumer Access for details.