Construction Loans

​Construction Loans offer a great way to secure funds and kick start a real estate project. 


​PCSB Bank provides a wide variety of construction lending products to finance the development of commercial buildings, apartment buildings, and other types of rental investment properties or owner-occupied business properties.
 
​Construction Loans are a crucial step when starting or expanding a business. Every business needs a work space, but construction is expensive, whether you're building a new space or remodeling an existing one. Commercial Construction Loans are specifically designed to help you cover these costs and get your business up and running.
 

Benefits of a construction loan


Choosing a construction loan over a home equity line of credit or other loans has distinct benefits. They are:
  • Interest-only payments during construction: Since the loan isn't paid out in full until your new construction is complete, you won't start paying down the principal until then either. During construction, you'll only be expected to pay lower, interest-only payments, giving you more time to save.
  • Added scrutiny provides structure: Though added scrutiny may not seem like a good thing at first glance, during the building process, it can actually help ensure that your project stays on budget and on schedule.
  • Spec construction options with flexible terms are available. 
Business Money Market Rate Special
1.30% APY* for a limited time.

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