Construction Loans

A construction loan will cover the cost of building a new home. The borrower only pays the interest payment on the funds as they are actually drawn down. At completion of the house the construction loan is paid off with the permanent mortgage loan. There is a loan closing for the construction loan and a closing for the permanent home loan.

A construction-to-permanent loan is a product with one closing up front for construction and permanent financing.

Clinch-Powell Construction Loan

Loan Terms and Benefits
  • 90% Loan to Value
  • 6 Month Term
  • Collateral Required
  • Origination Fee of 1%
Location and Property Qualifications
  • Contractor must be licensed
  • Inspections must be completed before draws can be made against the loan (typically happens in three draws)
  • Must be pre-approved for Permanent Financing
  • 780 Credit Score
  • No foreclosure within the past 48 months
  • No bankruptcy within the past 48 months

Clinch-Powell also offers Permanent Home Loan financing

Construction to Permanent Loan

New product, coming soon.

Construction Services

As an Energy Star Certified Builder, we construct quality homes and can provide readily available low-interest financing backed by lenders you can trust.

Our new construction homes meet:

  • Energy Star Compliant
  • Water Sense Standards

Because our homes are built to such high standards, homeowners’ utility costs are reduced by 25-40% compared to a standard home. Imagine a winter time $125.00 electric bill when it is cold and snowy for weeks!

Our homes are built by our partner Clinch-Powell Construction Company.

We can build on individual lots, and we have several developing communities. For any of our communities, you also have the option of purchasing an empty lot to develop in the future.

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Construction Crew

Valerie serves as Construction Coordinator and Team Leader with the Construction Crew. She oversees and coordinates new construction, home repair, acquisition and rehab projects.

Jeff served as an Appalachia CARES / AmeriCorps member for four years before becoming a volunteer project manager. He joined the staff in 2021 as a member of the Construction Crew in property management and rental.

Jeffery has been a part of CP since 2008 when he served two Appalachia CARES / AmeriCorps terms. He became a full-time employee in 2010 as the assistant manager of River Place on the Clinch. He now works full time with the Construction Crew focusing on new construction, home repair and rehab. He has a B.S. in Wildlife and Fisheries Management from LMU.

  • Jay McCullough

  • Appalachia CARES / AmeriCorps Member

Jay is an AppalachiaCARES AmeriCorps member serving his second term of service. He serves on our property management and construction crew.