Let’s construct your dream home together.
Construction-to-permanent financing funds the construction or renovation of your home and then automatically converts to a permanent mortgage loan after construction is finished. During the construction phase, your lender authorizes payments, or “draws,” to cover the cost of land, materials, labor, permits and other expenses. They work closely with an inspector to ensure the construction continues on schedule and on budget.
The construction phase usually ranges from 12 to 18 months, but some projects may take longer. During this time, you’ll make interest-only payments on the balance of the construction loan. When construction is complete, the loan automatically converts to a long-term mortgage and you’ll begin paying both principal and interest. We offer a one-time closing on custom constructed homes, with fixed- or adjustable-rate mortgage (ARM) options, so you can save on fees and closing costs and lock in your rate before construction begins.
Whether you’re ready to remodel or looking for a lot to build on, our financing is the perfect foundation.
