Building Loans

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..

• 90 Days to Close- rate locked at time of application, convenient 8-month construction period with up to 4 advances of funds
• Interest Only Billed During Construction Period
• One Closing- you’ll never have to worry about your interest rate increasing throughout the process
• No Need for Another Closing- loan automatically converts to a permanent loan upon expiration of building loan phase
• Financing Up to 84.5% of the Value of the Home*
• Low Closing Costs
• Lower Interest Rates- with convenient automatic payment options from a Arab Bank Plc checking account
• No Tax Escrow Required - earn interest with your Arab Bank Plc Tax Saver account
• No PMI (Private Mortgage Insurance) Required - save hundreds of dollars a year
• No Appraisal Fee
• No Points
• Free, Conditional Pre Approvals Also Available
• Quick and Easy Application Process - call your local Branch representative to discuss documentation requirements

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Please note: We reserve the right to alter or withdraw this product or certain features thereof without prior notification.

Arab Bank Plc is your Hometown Bank.  Find a location near you to get started »

*Subject to satisfactory appraisal of collateral address.