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

  • Gary Donehew

  • Operations Officer for Clinch-Powell

  • Construction Company

Gary has been with CP since 2008 as part of the construction crew. He is a Licensed Residential Contractor in the state of Tennessee.

  • Valerie Mullins

  • Appalachia CARES / AmeriCorps Member

  • Project Design Management

Valerie has been serving as an Appalachia CARES/AmeriCorps member since February 2016. She chose to begin a new adventure where she could utilize her artistic skills and love for home restoration after 22 years in bookkeeping for a legal firm in Virginia. She is a member of the Construction Crew serving as a design specialist and project manager.

Jeff served as an Appalachia CARES / AmeriCorps member for four years before becoming a volunteer project manager. He also helps with rental repairs and community education in energy efficiency and weatherization.