Building Loans

Building LoansWhen you own a piece of land and plan on having a house built, you need financing throughout the building process to pay suppliers, contractors, etc..

  • 90 Days to Close- rate locked at time of application, convenient 8-month construction period with up to 4 advances of funds
  • Interest Only Billed During Construction Period
  • One Closing- you’ll never have to worry about your interest rate increasing throughout the process
  • No Need for Another Closing- loan automatically converts to a permanent loan upon expiration of building loan phase
  • Financing Up to 84.5% of the Value of the Home*
  • Low Closing Costs
  • Lower Interest Rates- with convenient automatic payment options from a Trustco checking account
  • No Tax Escrow Required - earn interest with your Trustco Tax Saver account
  • No PMI (Private Mortgage Insurance) Required - save hundreds of dollars a year
  • No Appraisal Fee
  • Free, Conditional Pre Approvals Also Available
  • Quick and Easy Application Process - call your local Branch representative to discuss documentation requirements

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Please note: We reserve the right to alter or withdraw this product or certain features thereof without prior notification.

Trustco Bank is your Hometown Bank.


Applicable to our portfolio mortgage product. If you fail to qualify for that product, you may be offered a mortgage that does have an appraisal fee, borrower-paid PMI, and a tax escrow account.
* Subject to satisfactory appraisal of collateral address.