Construction Loans

Whether you already own land, you’re buying a lot, or working with a developer, we can assist you with your construction loan needs.

At the Bank of Old Monroe we offer flexible loan options that help you through the construction process. Construction loans are short-term, fixed rate loans used to finance the building of a home, renovation or other type of project. Funds can be used to finance labor, materials, land development, etc. The builder/buyer takes out a loan to cover the cost of the project before applying for long-term funding.

In most instances, the lender works with a title company to disburse funds in stages as work progresses on the construction project. Typically, borrowers are obligated to pay interest on any disbursed funds drawn throughout the term of the loan.

Contact Our Business Lending Team

Katrina Grasshoff
Old Monroe

Email

Matthew Bals
Moscow Mills

Email

Dalton Gilbert
O’Fallon

Email

Matt Daniels
Wentzville

Email

Matt Arnold
Troy

Email
We Offer Mobile Banking

Manage your finances on the go with the Bank of Old Monroe app! Our app allows you to view transactions, transfer funds, pay bills, deposit checks and more! To discover all the ways our app can benefit you, visit your app store and search “Bank of Old Monroe” to download.

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    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.

  • Third Party Site Disclaimer

    By accessing the noted link you will be leaving Bank of Old Monroe’s website and entering a website hosted by another party. Bank of Old Monroe has not approved this as a reliable partner site. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Old Monroe’s website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Bank of Old Monroe.