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BBVA Compass

Looking to Build Your Dream Home?

BBVA Compass is ready to help you finance your construction project.

  • Overview
  • Your Dream Home
  • Upgrading or Downsizing
  • Relocating
  • Tips for New Construction
  • Loan Options

Overview

Your Dream Home

If you have good credit and a down payment, you can accomplish your dream with a construction loan

 

Upgrading or Downsizing

Are you ready to downsize or upsize? There are various reasons why you might need to move to a larger or smaller property.

 

Relocating

Whatever your reason, let BBVA Compass help you plan a strategy for successfully getting from Point A to Point B with handy tips, tools and advice.

 

Tips for New Construction

Building a new home? Learn which key upgrades could be added during construction. Get New Home Construction Tips here.

 

Loan Options

Ready to start building your dream home? Get all of your home construction loan options and information at BBVA Compass.

Your Dream Home

We're here to help build your dream.

We have an extensive amount of experience helping people build their new home. Whether you are building your primary home or a second home, we offer a variety of loan programs to help you achieve your dream. If you are ready to get started, please contact us. We can guide you through the construction loan process

Upgrading or Downsizing

When change occurs you may need to consider buying a home that fits your new lifestyle.

Downsizing from a big house has its upside, that's for sure: There’s less square footage to heat and cool, fewer rooms to de-clutter and clean. The trick is to figure out a compact size that’s just right, one where you use every inch but don’t feel cramped. Although the life of a home is often in the details and often the reason many homeowners choose to upgrade their homes. When the details are thoughtfully chosen, a home develops personality. BBVA Compass can help you whether you are interested in downsizing or upgrading the place you call home.

Relocating

Moving out of state or out of the country?

When a career move means moving to a new home, BBVA Compass has the home financing information, options, tools, and resources you need to help you relocate quickly and efficiently. When trying to determine whether or not to relocate, there are many different factors to consider. When you want a better home buying experience, it helps to have a dedicated team of relocation mortgage loan experts on your side.

Tips for New Construction

Tips to saving money when building a new home:

  • Lot/land - having the right lot/land is key to building your new home. Make sure the lot/land has access to all necessary utilities and appropriate water and sewage services. Choose a lot/land that is well suited to the type of home you will build.
  • Choosing the right contractor – choosing the right contractor has the most impact on the success of the project and your overall enjoyment with the building experience. The contract price and the quality of the construction vary from contractor to contractor. That’s why we recommend you talk to several contractors to compare bids and select the contractor you feel most comfortable with.
  • Selecting the right lender – just like choosing your contractor, choosing the right lender is important. BBVA Compass offers competitive financing options that save you money. Saving money on your financing allows you to put more money into your new home.
  • Sustainable style - Using recycled building materials will help you save money plus it's the green, in-style thing to do. Also, look for reduced price products like floor models, reconditioned appliances and discontinued models and products (you can usually score big with discontinued flooring materials). 

Loan Options

Fixed Rate Mortgages

A BBVA Compass fixed rate mortgage can offer safety, security and peace of mind that keep your monthly principle and interest payments the same throughout the term of the loan.

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Adjustable Rate Mortgages

Adjustable-rate mortgages (ARM) are initially more affordable than fixed rate loans. And they can be a good deal if you know you're going to stay in your home for a relatively short period of time. But you run the very real risk that interest rates could rise sharply and drive up your monthly payments.

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One-Time Close Construction Loan

Building a new home may seem like a complicated process. That's why BBVA Compass makes financing simple with our one time close program.

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Jumbo Loan

If you have a higher property value and can manage larger monthly mortgage payments a Jumbo (also referred to as non-conforming) loan may be a good choice for you.

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Loans subject to program eligibility, collateral, underwriting and approval, including credit approval.