Building a Home

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Before You Start:

Construction loans are our specialty. Marquette offers important advantages such as simplicity, less cost and offering flexible rates and terms. Learn why Marquette has been a preferred construction loan resource for decades.

A Marquette Construction Loan specialist can help explain our options and help you choose the best way to finance your new home construction. Click here to find a Loan Officer and get started or call (814) 455-4481 or toll-free 1-866-MSB-ERIE

To better understand how Marquette can ease your home buying process, take a moment to watch this informative video.

The experience of our customers is the best story of all. Take a moment to Watch their Mpowered™ Home Buying Story.

One Loan, Not Two

Some lenders offer a construction loan upfront then require a mortgage after the home is built, forcing the homebuyer to incur the cost of two closings. Marquette requires just one closing for the construction phase and permanent financing.

Timely Contractor Payments

Marquette understands how important it is to keep construction on schedule at every stage. Payments to builders and stage of construction inspections are all approved and processed by Marquette right here, in your hometown, so construction stays on schedule and you move into your dream home quicker. That's why builders prefer dealing with Marquette.

Speed

Because we've streamlined the mortgage loan process, you’ll get approvals quicker and be in your new home faster. Marquette is the only remaining locally headquartered bank. We have more loan originators than any other financial institution with offices in Erie and Crawford counties so you are never waiting long. All underwriting, servicing and loan decisions are handled weekly right here ---in your hometown.

More Savings

Unlike many lenders, Marquette does not charge a broker fee, additional underwriter fee or fee for escrowing funds. The fees Marquette does charge are affordable and straight-forward so you know just what the fee represents.

More Choices

In most situations, escrowing for taxes and homeowner's insurance is optional and it’s free of charge. Plus, buyers have their choice of legal counsel for closings.

Personal Contact

You’ll have a personal loan expert you can rely on to guide you through every step from prequalification to loan closing. Mortgage loan originators have direct contact with loan decision makers not a computer that makes decisions based on numbers.

Local Customer Service

At Marquette, we service 100% of our loans locally for as long as you have your loan. Many lenders will sell your mortgage to investors you’ve never met, leaving it up to you to figure out the answers to the questions you’ll have later. Marquette is always here for you, now, or 30 years from now, in person, at a branch or directly by calling one of our offices.

Loan Choices

Marquette offers a variety of mortgage loan options including bridge loans that make the transition from one home to another easy. Marquette Savings Bank is also one of just a few local financial institutions to offer portfolio loans — loans kept on Marquette's books for the entire duration of the loan. This loan can be more advantageous to borrowers for situations other financial institutions are not able to finance. Unable to put 20% down? Let the experts at Marquette explain your options.

If you are a first time home buyer, or have not owned a home in the last three years, Marquette’s Hometown Mortgage Program may be just what you need to become a home owner. There are two basic requirements for this program:

  • the price of the home is $70,000 or less
  • and your Housing and Urban Development (HUD) adjusted income level qualifies

If you meet these requirements, and would like to learn more, read about our Hometown Mortgage Program.

Mortgage Advantage

Open any new checking account before loan closing and Be Mpowered™ with $100 toward closing costs on your new Marquette Mortgage¹ and an annual option² for a 0.25% increase on the posted interest rate for a Marquette Certificate of Deposit when you deposit $10,000 or more new money into the term of your choice. Requirements include: Establishing a new qualified mortgage at Marquette Savings Bank in which credit is secured by the customers’ primary residence. To be eligible, customers must also establish an automated payment that originates from a Marquette Checking account. Requirements may be in addition to any checking account requirement.

¹ Qualifying Mortgage loan must be new money and borrowed against the customer’s primary residence. Applies to installment loans and excludes revolving lines of credit. ² Limit one (1) CD rate increase per household per year.

A Marquette Construction Loan specialist can help explain our options and help you choose the best way to finance your new home construction. Click here to find a Loan Officer and get started or call (814) 455-4481 or toll-free 1-866-MSB-ERIE.