Construction Loans

Northeast Indiana's #1 construction lender. Build your dream home with local expertise and competitive financing.
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Building Your Dream Home Starts Here

As the #1 construction lender in Northeast Indiana, 3Rivers makes building your custom home simple. We service our mortgages locally, throughout Indiana, Ohio, and beyond, so when you have questions during construction, we're here for you every step of the way.

How Construction-to-Permanent Financing Works

Our construction loans combine your construction financing and permanent mortgage into one streamlined process—you close just once, saving time and money. During construction, you make interest-only payments on funds disbursed to your builder. Once complete, your loan seamlessly converts to your permanent mortgage at the rate you locked at closing.  Borrower qualifications apply. Alternative options available.

What You Get with 3Rivers 
  • As low as 5% down payment 
  • One-time close simplifies everything 
  • Lock in your interest rate upfront 
  • Fixed and Adjustable Rate options available 
  • Local decision making with continuous communication 
  • Interest-only payments during construction 

Ready to Build? Start with Your Property

Land & Lot Financing Options

Whether you're buying acreage or a subdivision lot, we offer flexible financing to help you secure your building site.
Looking at plans and pointing to land for purchase.

Land Loans

  • Up to 80% of purchase price 
  • No acreage limit 
  • Loan amount maximum of $250,000 
  • 3-year balloon with interest-only for 36 months 
  • Land appraisal required
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Bulldozers digging up a lot

Lot Loans

  • Up to 80% of purchase price 
  • Appraisal may not be required 
  • Loan amount maximum of $250,000 
  • 3-year balloon with interest-only for 36 months 
  • Ideal for lots within subdivisions 
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Common Questions About Building Your Home

Construction-to-Permanent Loan FAQs

Find answers to frequently asked questions about construction loans, financing requirements, and the building process.
What payments do I make during construction?
During construction, you make interest-only payments on the funds already disbursed to your builder. Once construction completes and your loan converts to a permanent mortgage, regular payments begin. 
Do you service construction loans locally?
Absolutely. We service all mortgages locally in Fort Wayne, Indiana and Ohio. When you need help during or after construction, you'll work with our local team who knows your community.
How long does the construction loan approval process take?
As your local lender, 3Rivers provides prompt decision making. Timeline varies by project complexity, but our experienced team works efficiently to get you approved and building quickly.
What's the difference between land loans and lot loans?
Land loans finance raw acreage outside subdivisions without existing infrastructure. Lot loans finance developed properties within subdivisions where utilities and roads already exist.
Can I lock my interest rate before construction starts?
Yes! You can lock your interest rate upfront when you close, protecting you from rate increases during construction. Even if rates rise while you're building, your locked rate stays the same.
What does one-time close mean for construction loans?
One-time close means you complete just one closing for both construction financing and your permanent mortgage. This saves you time and money by eliminating duplicate closing costs and paperwork.
How much down payment do I need for a construction loan?
Construction loans at 3Rivers require as low as 5% down, making it more accessible to build your custom home. The exact amount depends on your credit profile, loan amount, and property details.

Ready to build your new home?

Contact one of our Construction Loan Officers to get started today.
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Related Services & Tools

Maximize Your 3Rivers Membership

Pair your construction loan with these tools to manage your money, protect your investment, and reach your goals.
Home & Auto Insurance

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