Building your dream home? We can help lay the foundation.


You know exactly what features you want in your new home. And you have a contractor ready to execute the plan. Now all you need is financing to get you through the building process. At Starion Bank, we offer affordable construction loans to cover everything from the first load of lumber to the last roof shingle.

Just as importantly, we offer a streamlined process that makes funds available as you need them, helping to ensure that your home is finished on time and within budget.

  • Short-term loan that covers building materials and labor
  • Affordable rates and low closing costs
  • Down payment as low as 10%
  • Access to loan professionals who can help you navigate all phases of the building process
  • Easy transition to permanent mortgage. We’ll waive the origination fee for the permanent financing if you've financed the construction loan with us.

How to Qualify

Construction loans are quite a bit different than a standard mortgage. That's why it's important to work with an experienced mortgage lender like Starion Bank. In general, you will qualify for a construction loan if you have good credit and meet these requirements:

  • Have a qualified builder: A qualified builder is a licensed general contractor with an established reputation for building quality homes.
  • Detailed specifications: This includes floor plans, as well as details about the materials that are going to be used. Builders often put together a comprehensive list of all details (sometimes called the “blue book”). This generally include everything from ceiling heights to the type of insulation being used.
  • The home value estimated by an appraiser: It might seem difficult to appraise something that doesn’t exist yet, but an appraiser evaluates the specs of the house, as well as the value of the building site. All these are then compared to other similar houses with similar locations, features and size. These other houses are called “comps,” and an appraised value is determined based on the comps.
  • A down payment: You may be able to put down as little as 10% depending on your credit score and home value.

Other Loan Types

  • Lot Loans: Generally, a lot loan is used to purchase an empty parcel of land, while a construction loan is used to build on that lot.
  • Bridge Loans: If you’re buying or building a new home, a bridge loan provides short-term financing that lets you complete the purchase and closing process before you sell your current home.

Starion Bank is a full-service financial institution with branches in North Dakota and Wisconsin.

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