| Construction to Permanent Loans |
| Construction Phase |
- Interest rate is fixed for 12 months
- Interest-only payments on funds disbursed
|
| Permanent Phase |
At modification, you may have the option to choose from a range of loan options based on your loan program:
- Fixed Rate
- Adjustable
- Interest Only
|
Rate Protection
|
Rate protection is available for both the construction and permanent phases. |
Benefits
|
A single loan allows you to:
- Purchase your lot
- Finance construction
- Secure permanent financing
- Pay one set of closing costs
|
| May be right for you if... |
- You're building a primary or vacation home
- You're renovating a primary or vacation home
|
