Building Loans
Let Bank of Alaska help you finance that new motor home, travel trailer, boat, personal watercraft, or motorcycle you’ve been dreaming about.
When you own a piece of land and plan on having a house built, you need financing throughout the building process to pay suppliers, contractors, etc.
- Interest Only Billed During Construction Period.
- No Need for Another Closing- loan automatically converts to a permanent loan upon expiration of building loan phase.
- No Tax Escrow Required - earn interest with your Bank of Alaska Tax Saver account.
- No Appraisal Fee
- No Points
- 90 Days to Close- rate locked at time of application, convenient 8-month construction period with up to 4 advances of funds.
- Low minimum balance requirements to avoid service charges.
- Financing Up to 84.5% of the Value of the Home*
- No PMI (Private Mortgage Insurance) Required - save hundreds of dollars a year
- Quick and Easy Application Process - call your local Branch representative to discuss documentation requirements
- One Closing- you’ll never have to worry about your interest rate increasing throughout the process.
- Low Closing Costs.
- Lower Interest Rates- with convenient automatic payment options from a Bank of Alaska checking account.
- Free, Conditional Pre Approvals Also Availabl.