Interim Construction Loans

What Terms are Available?

An interim loan is short term (up to 18 months) and is paid off when the permanent mortgage loan is granted.

Broadway Bank offers two options for financing your custom built home.

One Time Close construction loan.
This will save you money and time, since you qualify only once—the loan automatically converts to permanent financing once your home is complete. No re-qualifying, no interest rate risk, no additional closing costs.

Two Time Close option.
This is a great choice if you prefer a longer term permanent mortgage or have less than 20% equity in your property. We provide the short term interim construction loan and the permanent mortgage loan—plus a reduced origination fee for combining these two loans.

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How Much Can I Borrow?

Broadway Bank will loan up to the amount of your permanent mortgage commitment or 90% of the cost.

How Do I Get Started?

Contact our Mortgage Center to begin the approval process.

You should have your permanent mortgage
loan approved before you close on your interim construction loan.

Have a Question?
Contact our Construction Loan Department
Call (210) 283-6633
or (800) 531-7650