Pierson-Gibbs offers low rate construction loans for our owner/builder program.

Advantages are:

  • 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
  • 9 months term with simple interest