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JD MORTGAGE® connects you with lenders who want to help you build a new home or renovate an existing property. We find the lenders that offer terms specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your construction financing needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Nebraska is a great place to live and raise a family, but the cost of homeownership is rising. As such, many people are turning to construction loans as opposed to traditional mortgages.
The average home price for a single-family home in Nebraska is $200,000, but cities such as Lincoln, Omaha and Lexington clock higher prices according to recent reports. Meanwhile, the cost of building a home in Nebraska is closer to $90 to $130 per square foot for a standard grade construction per industry real estate experts in the state.
If you’re considering building a new home, a construction loan lets you build your dream home while making interest only payments during the construction period. It’s perfect if you want to make sure that you can afford the house before moving into it.
So, if you’re looking for a way to build a new house without taking out traditional home loans, continue reading to learn more about the advantages and disadvantages of building a new home as well as a list of construction financing lenders in Nebraska.
A new construction loan is a great way to get the home you’ve always wanted. It’s a loan that allows you to buy land and build a new house. The lender will give you money to pay for construction costs, and then once the house is complete, the lender will convert the construction loan into a traditional mortgage.
Another major benefit of home construction loans is that your lender will be aligned with your interest when it comes to ensuring that the builder completes the home on time and to the correct standards. The builder won’t want to risk damaging the relationship with the bank, meaning you’ll effectively have two parties (yourself and the bank) pushing the builder to get things done correctly.
Borrowers should always research down payment and credit score requirements from construction lenders before moving forward with a loan for their custom home.
If you’re ready to check out the top construction mortgage lenders in Nebraska, here are the best options we’ve found through our research.
West Gate Bank started in 1968 in Lincoln, Nebraska and now has over $560 million in total assets, all of which they claim are invested in Lincoln and Omaha communities. Not surprisingly, they offer a construction loan product for those in Nebraska wanting to build or renovate a home.
We recently contacted West Gate Bank to learn more about their construction loan. Here are some interesting highlights:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
First National Bank of Omaha is based in Nebraska and serves the entire state when it comes to financial products like checking and investing accounts. In addition, they offer a construction loan for those interested in building in the state.
We reached out to First National Bank of Omaha to learn more about their construction loan product. Here are some key terms:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Lincoln Federal Savings Bank is a local bank in Nebraska formed in 1906 and organized as a mutual holding company. In that model the depositors of the bank own the company, meaning there are no outside shareholders. They operate solely in Nebraska.
We contacted Lincoln Federal Savings Bank recently to get more information about their construction loan program. Here are the details:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Wintrust Mortgage is one of the top 20 bank-owned retail mortgage originators in the country that originates in excess of $4 billion in loans annually in all 50 states.
Recently we asked Wintrust Mortgage to provide us with details on their construction loan and this is what they said:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Union Bank & Trust Company is a family-owned local bank in Nebraska that offers banking, financial planning and wealth management services to the local community. Their history dates back to 1917, although they have a total of $6.5 billion in assets on hand today. As you might imagine, they offer a construction loan to community members looking to build.
We wanted to learn more about Union Bank & Trust Company and its construction loan, so we reached out to them to gather additional details.
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Construction loans are a great way to get started on your dream home project without needing to liquidate any assets. They can also be used to cover the cost of the land purchase.
Keep in mind that you’ll need to continue to pay your rent/mortgage for your current home during the building process, so construction loans and building a new home can stretch the budget (even if you’re only making interest payments on the construction loan).
The process of building a home can take a long time but you’ll end up with exactly what you want.
Click on another state to find the best construction loan lenders in that state.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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