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Construction-To-Permanent Mortgage

This popular loan program finances the initial construction of your new home then converts to permanent financing automatically – all with just one closing. There’s no need for a second loan closing and the associated costs. Both fixed and adjustable rate programs are available with options to lock in the permanent mortgage for up to 12 months allowing for longer build times. During the construction phase, funds are disbursed as work progresses. Interest is paid only on the outstanding balance.

  • Payment Protection Program – locks in today’s low rates so you don’t have to worry about your payment going up while your home is being built
  • Float Down Option (available on select products) – if rates go lower, you may request the current, lower rate when your home is ready to move into
  • Down payment options as low as 3%
  • Options without mortgage insurance available
  • Direct Disbursement option provides fast payment to contractors
  • Flexible draw schedules accommodate a variety of projects
  • Convenient Online Draw Requests available on owner-occupied, second homes for loans up to $3 million
  • Available on 1-unit investment properties for loans up to $1 million

To see how this process typically works, view our Construction Timeline.

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Contact us and we’ll answer your questions.