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Interim Construction Loans

Material and Construction Financing

Interim loans are business-to-business short term loans for home builders that cover the cost of materials and the construction of a spec home until it is sold. Interim loans can be used to cover permits, contractors, materials and finishing costs. 

Why Choose McCoy’s?

We realize you have a choice in financial service providers and appreciate your consideration. There are a few things that set McCoy’s apart from the competition. Each interim construction loan has hands-on support throughout the entire process by one of our credit experts and a Customer Service Representative. Our loans are centrally processed and approved by our in-house team. Inspections are done by your Customer Service Representative which allows for quicker turnaround on requested draws. For your convenience, materials purchased at McCoy’s will be automatically directed to your loan account. Therefore, the only draws required will be for materials purchased outside of McCoy’s and Labor. Plus, we offer the option to have your draws wired straight to your bank account, and we would be happy to pay your vendors directly, saving you time and postage. 

Current Terms

  • Loan Amount: 80% LTV or 100% of hard costs; whichever is less
  • Interest Rate: Competitive Fixed Rate
  • Origination Fee: 1% of loan amount
  • No Inspection Fees
  • Term and Repayment: 9 months with interest payable monthly
  • Retainage: Waived
  • Required: Appraisal, Flood Certificate, Title Insurance and attorney prepared documents 

If you are interested in applying for an interim construction loan for your business, please fill out the form below and a representative from our Interim Finance Team will contact you.


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