Construction Loans Made EASY.
Build your future with a Construction Loan.
If you’ve been dreaming of building a home, complete with all your custom touches, there’s never been a better time! First Bank & Trust is offering a low rate on construction loans for new homes, and we can help you understand all your financing options. Stop in or call one of our mortgage lenders today!
*Promotional rate for qualified applicants only. Subject to credit approval. For residential, owner-occupied, primary residence properties only and does not include loans for remodels or refinances. Limited-time offer. Construction loan applications must be submitted on or after 3/3/2025. Construction loan rate must be locked in on or before 5/30/2025. The annual percentage rate of 8.578% is based on a $500,000 loan with 11 monthly interest-only payments of $1,099.91 and a final balloon payment of $501,099.91, assuming the full $500,000 is drawn. Total outstanding loan balance due at loan maturity. Other terms and conditions may apply. Property insurance required. Consult your tax advisor on the deductibility of interest. Contact bank for additional details. Minimum credit score of 720 required. Must have a consumer First Bank & Trust checking and/or savings account with direct deposit established. Permanent financing must be approved to go secondary market, and maximum loan amount on the permanent financing will be the conforming loan limit ($806,500). First lien position only. Contact bank for additional details.
The Institution ID numbers for First Bank & Trust charters with the NMLS Registry are as follows: First Bank & Trust (includes Milbank, Toronto, Vermillion, Canton, Garretson, Madison, Watertown, and White in South Dakota and Pipestone, Cambridge, East Bethel, Edina, New Prague, Princeton, and Roseville in Minnesota) – 409296.