Pierson-Gibbs offers low rate construction loans for our owner/builder program.
- Simple Interest (only on draw checks written).
- No limit to the number of draws allowed.
- No Draw Fees.
- No Points.
- No closing cost.
- No application fee.
- No credit report charge.
- No recording fees.
- No inspection fees.
- Property may not have to be paid for.
- Pre-approval letter from your mortgage company
- Pierson-Gibbs Homes purchase agreement
- Approved credit
- 1 1/2% down payment to start the process
- Loan term begins at first draw
- 6 months term with simple interest