Loans to fund your construction.

Are you thinking of building a new home in southeast New Mexico? We have a variety of New Mexico home construction loans available for most credit and income situations. We make local decisions and have greater flexibility on quick loan decisions. A construction loan is a short-term (usually about a year) used to fund the construction of your home, from breaking ground to moving in.  With a Pioneer Bank construction loan, your construction financing would refinance to a permanent mortgage when your home is complete.  During construction, you only pay the interest on your loan, and your payments may be tax-deductible1.  For construction loan rates, please consult your local lender below.

Business Testimonials

caliches testimonial
American Documents
Dickerson Group

Building a home doesn’t have to be overwhelming.  Knowing what to expect will help simplify the process.

  • Your builder will have scheduled draw payments for completed work
  • You will have periodic inspections of the home as it is being built

To know your budget, you should contact a lender below about construction loans.  Together you can determine how much you will be able to spend.

Keep your household budget in mind, too.  You may not want to borrow as much as we can offer, you will need room for other monthly expenses after you move in.

When you’re choosing a lot, look into its zoning. Local ordinances can affect the type of home you can build, where you can build it, whether you can have additional structures, and more.

If you already own your lot, good news: You can use it as equity when you set up your financing.

You’ll need a licensed builder to get a construction loan. Be sure to verify their licenses, check references and speak with them about your plans. By vetting the builder, you’ll increase your comfort level and decrease your exposure to legal complications.

Incidentally, Pioneer Bank requires homeowners insurance that includes builder’s risk coverage. This helps protect you while your home is being built.

After the final inspection, you will receive your certificate of occupancy.  Then you are all set to move in – and since the home is complete, your loan will be refinanced to a permanent mortgage.

Contact one of our professional, qualified lenders.

Nicole Austin
Nicole AustinExecutive Vice President/Chief Lending Officer
Chaves County
NMLS #591583
Nathan Brandt
Nathan BrandtVice President/Commercial Loan Officer
Chaves County
NMLS #2230644
Kiel Hoffman
Kiel HoffmanExecutive Vice President/Market President
Doña Ana County
NMLS #591598
Kevin Merhege
Kevin MerhegeCommercial Lender
Doña Ana County
El Paso
NMLS #529713
Santiago Meza
Santiago MezaCommercial Lender
Doña Ana County
NMLS #1892992
Miguel Perez
Miguel PerezRegional Vice President Commercial Lending/Business Development Officer
Eddy & Lea Counties
NMLS #448649

Our business clients say…

“Pioneer Bank’s personalized service has been instrumental in helping our family-owned business achieve our goals of continued success and growth.”


“Pioneer Bank offers a great level of service that makes everything easier to keep my business moving forward”