One-Step Construction Loan Benefits

On Monday, July 11th, former First Midwest Bank locations opened as Old National Bank. The merger enables Old National Bank to build on both organizations’ longstanding history of service, enhance its ability to champion community initiatives and drive positive change throughout its footprint. 

What does this mean for you and your buyers? It means you can work with a local lender that has the resources of what is now the sixth largest bank headquartered in the Midwest. All Old National Bank’s signature mortgage loan products, the one-time close new construction loan, Professionals Program for Doctors and Tenured Professors and the Community Experts and Heroes Program, are still available. 

One product that continues to be very popular is the One-Step new construction loan. With an Old National One-Step New Construction Loan, your clients can manage the entire home financing process with one application. That means less hassle and more peace of mind for everyone involved. Plus, our experts will be there to help, every step of the way. 

One-Step Construction Loan benefits: 

• Convenient one-time closing

• Rate locked at application to avoid rising rates during construction

• Interest-only payments during construction period, up to 12 months

• Fixed rate and ARM loans available

• Conforming and Jumbo loan amounts available

If you or your buyers have any questions, please do not hesitate to reach out.

*Subject to credit approval. Property insurance required.