Lot & Construction Loans
Buying a lot or building your own custom home on a lot you’ve purchased? Let Blixcore Offshore Bank help you finance the project. Some features of our construction loan programs include:
- Progress Inspections. We use inspectors experienced in residential construction to monitor progress and determine how best to disburse funds.
- Voucher Payment Process. Our voucher payment system provides for direct payment to subcontractors and suppliers.
- Fund Control. Fund Control Services are available and may be required in some areas.
- Periodic reporting. Reports to general contractors and borrowers provide details of loan disbursements, which can be used to reconcile to your records. Year-end reporting is also provided on transactions requiring 1099 reporting.
- Interest Reserve. This may be added to your loan, which will typically cover the interest payments during construction.