When you need the flexibility of a loan tailored to new construction, CNB offers secured, interim construction lines of credit.
- NetTeller On-line Banking Services
- 24 Hour Telephone Banking
- 24 Hour Bank Information Helpline
- 1% Origination Fee
- Competitive Rates
- Draw Note
- Second Home/Recreational
- Secured by Property
- Residential Application
REQUIREMENTS & FEES
Six months (up to one year if needed)
Up to 80% of the lesser of construction contract or appraised improvement value
- Builders Risk insurance is provided by the builder or borrowing customer listing CNB as loss payee
- Note features a draw note advance as needed.
- Periodic inspection is done by a CNB loan officer.
- The loan will be secured by the subject property.
To learn more or to apply for a CNB Straight Line of Credit Loan or to get pre-approved, call or visit your nearest CNB Knowledge Banking Center.