Construction & Lot Loans

Construction working staking bricks

You’ve dreamed of your perfect home for years, down to every last detail. Now it’s time to build it. Make your vision come to life with a construction loan from State Bank of Cross Plains, tailored specifically for aspiring home-builders looking to turn their dreams to reality.

Our construction loans and draws are handled locally, and we offer monthly interest-only payments based on your construction loan balance. When your home is complete, the transition to permanent financing is simple.

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Our Process

Though building a house may seem like a daunting prospect, things become infinitely more manageable with the benefit of an experienced, trusted partner as a guide. State Bank of Cross Plains is here to help things run as smoothly as possible on the financing side, so that you can concentrate on what really matters.

Here are some of the things we’ll do/take care of at different stages of the home-building process:

Before Breaking Ground

  • Help guide you through loan pre-qualification and answer questions.
  • Offer you flexible financing options.
  • Order an appraisal using building plans and specs.
  • Set loan closing date.
  • Order Title Commitment and construction oversight with the Title Company.

As Construction Begins

  • Guide you through the construction loan draw process.
  • Provide you with a monthly statement for interest due on the disbursed funds.
  • Work with the Title Company to release funds to the builder.
  • Review and approve any change orders

While Building Continues

  • Ask you and your builder to check in with your mortgage lender 30 days prior to project completion.

Before Move-In Day

  • Ask you and your builder to complete final inspection five days before the loan final disbursement.
  • Meet with you to refinance your construction loan into a mortgage. You will sign a new application, discuss terms, update income docs and set a closing date for the new loan.
  • Order appraisal recertification of value for the completed home.

We always strive to be as up front, transparent, and communicative as we can, to make sure you’re always informed and aware of how things are progressing.If you’ve found the perfect piece of land, we have the perfect lot loan to meet your needs. Give us a call today at (608) 405-6952, to find out how we can help.

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