construction lending

Build With Bell

Our in-house construction lending team is here for you every step of the way.

When it comes to financing a construction project, Bell has everything under one roof!

half circle logo
half circle logo

You’ve decided it’s time to make change and you have chosen to build or renovate. Now what?

Here are the first 3 steps to plan your build:

  1. The best place to start the process is right here at Bell. Our in-house construction team will help you determine your budget and evaluate which financing options will fit you best.
  2. If you haven’t already selected a contractor, there are some steps to take that can help with that decision. Talk to friends or family who may have built or renovated a home.
  3. Determine your plans for the future. Do you need more space? Want to shorten your commute? Be closer to family?  Visit model homes and research the finished product of builders in your price range.

Based on your unique plans for the future, we help you determine your budget, and you and your builder will come up with a price to make it all come together!
You’ll find it all with your in-house construction lending experts at Bell!

  • Rehab Loans
  • One-time close (OTC)
  • Two-time close
  • Lot loans
  • Extended lock with float down
  • Adjustable rate mortgages (ARMSs)
  • Fixed-rate mortgages
  • Jumbo loans
  • Conforming loans
  • Simple draw process
  • In-house appraisal desk

More about our most used construction loan programs:

One-Time Close (OTC)

Sometimes it makes sense to simplify, and Bell Bank’s special one-time close option for new construction means you can avoid the hassle and additional costs of having to close twice. 

One big benefit of an OTC loan is the ability to lock in your interest rate up front to avoid rising rates during the construction process. Another benefit is saving time on documentation and paperwork –once you close on an OTC loan, you’re free to focus on the build process without worrying about having to submit more documents along the way. Simplicity! 

Two-Time Close

A two-time close construction loan is an alternative option for financing a construction project. One loan provides the funds to buy (if necessary) the site and to fund the improvements. 

The second loan pays off the construction financing by refinancing the existing debt into whatever loan option you prefer. A two-time close transaction requires two loan approval events and costs slightly more than an OTC. Flexibility is the biggest benefit of the two-time close financing option. This option better manages the ability to cover cost overruns, changes to the scope of your project, and allows the ability to change the original choice of the permanent financing terms. 

Renovation Projects

If the thought of building a new home is overwhelming, consider renovating an existing property. This option can be used on a home you are purchasing or the home you already own. 

Financing from Bell becomes a powerful tool that will help you alter an existing structure to fit exactly what you need. Rearrange your current layout, or add new space to accommodate your personal

  • Redesign or expand a kitchen
  • Add bedrooms, bathrooms, or family rooms
  • Expand a home’s square footage
  • Update or repair older, deteriorated areas of the home — including mechanical
  • Finish the lower level, add dormers, or even another level
  • Replace roofing, windows, and appliances
  • Rejuvenate landscaping
  • Freshen up interior and exterior finishes
  • Add modern safety, connectivity, and accessibility option

Get Started by Finding a Bell Loan Officer