New House Building and Remodeling Loans
Building a new house from scratch or just refurbishing your current place? With an assortment of home renovation and house building loans, Flagstar can help you finance your new home construction or remodeling project.
Solutions to build or remodel your home
Building a new home or renovating your current home is exciting, but there are so many decisions involved. Making Flagstar your lender is an easy choice. We offer home renovation loans, new home construction loans, and home remodeling loans that fit your budget, and our experienced loan officers will listen to your story to help you find the right mortgage for your unique situation.
This two-in-one loan covers the home price and renovation costs.
Construction Draw
This special loan gives you the opportunity and flexibility to construct a new home. During the construction/draw period, only interest payments are due on the drawn balance,1 then may be closed with a wide variety of Flagstar Bank loan options once the build is complete.2 Our construction draw mortgages can be used to build primary residences up to $3M.
Build the home of your dreams and pay interest only during construction.
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Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and lender terms and conditions. Programs are subject to change without notice. Some restrictions may apply. This is not a commitment to lend. A loan advisor will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
112-month construction loan period. Borrower must close on the end loan after construction is complete.
2Borrower must qualify for end loan financing prior to construction, and upon completion of the construction of the dwelling.