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New Construction

From groundbreaking to housewarming, Bremer Bank has the home construction lending expertise to help move your project along smoothly. We’ll put together a construction loan package to meet the specific needs of your project.

When you begin to build a new home, you can estimate how long the project will take and what the costs will be, but you won’t know the final bill until everything is complete. A construction loan allows you the ability to make interest only payments during the building phase of your home. During this construction phase you will draw funds from the loan to pay contractors for their work. You will work closely with your Bremer mortgage loan officer to determine the loan terms and how the construction draw process works.

We start by taking time to get to know you and understand your goals. When you partner with Bremer Bank, you benefit from more than 60 years of financial strength, local decision-making, long-term relationships, and a comprehensive line of products and services.

  • Convenient: Construction loan and end loan are processed at the same time.
  • Simple: Dedicated construction team focused on offering an efficient draw process with 72-hour turnaround and smooth closings
  • Secure: Ability to commit to an interest rate for up to 180 days.
  • Personal: Bremer offers a one-stop shop for the entire construction process, which means you only need to work with one lender during the term of the construction loan.
  • Customized: We are able to put together a flexible construction loan package tailored to meet your needs.

Lot loans — Bremer has one of the best financing programs available for purchasing a lot.

  • Flexible rate and program options
  • Ability to finance up to 75% of the purchase price
  • 60-day rate lock

Construction Loans — Available with competitive terms, the full outstanding balance of the loan is due and payable at maturity. Options and advantages include:

  • Conventional financing up to 90% loan-to-value
  • Extended rate lock up to 180 days
  • 72-hour turnaround on draw requests
  • Interest-only payment during construction

Many permanent loan programs available — Once construction is complete, Bremer Bank offers a wide variety of permanent financing options.

  • Conventional, FHA and VA

In addition to standard credit documentation, we’ll need copies of these items, as applicable, to begin processing a loan request:

  • Final plans and specifications needed to obtain an appraisal
  • Purchase contract for the lot
  • Scope of work
  • Sworn Construction Statement
  • Construction sales contract
  • Copy of builder's license

Contact a Bremer mortgage loan officer today to discuss your construction financing options.

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Deposit products offered by Bremer Bank. Member FDIC.

Equal Housing Lender