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Whether you already own the land that you want to build on or are interested in purchasing land and building a new home, Metairie Bank can provide financing from $100,000 to $4,000,000 through a one-closing construction loan where you can avoid the cost and hassle of closing twice. This type of loan features low closing costs which are paid only once and provides an interest rate which is locked-in at the time of application for both the construction and permanent portion of the loan. Review the steps below and give us a call to begin building your dream home.


Arrange a pre-qualification meeting with a Metairie Bank construction loan specialist. A pre-qualification will determine if the loan amount you need is within your budget. Call us at 504-834-6330 or 985-674-2255, or you can email us at mortgage@metairiebank.com.

Details of your Dream Home

Once you are pre-qualified, finalizing your home plans and finding a builder are your next steps.

  • Building Plans – In order to initiate the appraisal, your loan originator needs a set of your house plans (blueprints). The plans need to show dimension and elevation. You can submit your preliminary plans for appraisal purposes as long as you do not make any major changes to the footprint of the house. We will need a copy of your building contract signed by a Louisiana licensed residential contractor and 2 sets of plans (including foundation plan) and specifications at the time of loan application.
  • Find a Reputable Home Builder – A signed and binding agreement between the borrower(s) and builder. This agreement lists the scope of the work to be completed by the contractor and at what price. An appraisal can be ordered from the builder’s quote.
  • Specifications (Specs) – A listing of all of the materials that are to be used during the construction process. This information enables the appraiser to determine what materials are going to be used and to assign proper value to the home. Your dealer will provide you with a specifications sheet.
  • Time Frame – Depending on the property location and availability of the appraiser, we recommend allowing 2-3 weeks for appraisal completion.

Application and Closing

Once Metairie Bank receives your application, we will begin the approval and feasibility process. Upon loan approval, we will set the loan for closing. During this process, we will also determine the duration of the construction period and the anticipated date your loan should be converted to a permanent loan. The typical construction period is from 6 to 12 months.


Once the loan is closed, construction can begin. Metairie Bank typically structures for a 5 draw payment system, which allows for periodic payments at various stages of construction completion. During the construction period, only interest payments will be required. Once the home is completed, the construction loan will convert to a permanent loan and full principal, interest, and escrow payments will be required based on the loan term you selected.

Metairie Bank is here to assist with your construction loan needs.

Connect with us at mortgage@metairiebank.com or call today!

NOTE: If your new home construction is being financed by the developer or builder, then you will purchase your home from them and will not need a construction loan. Apply to begin the application process to qualify to purchase your new home upon completion of construction.

*Terms and conditions of our construction loan program are subject to change without notice.

*Insuring a new home during construction – Request an Insurance Quote here.