Program details
Construction-to-permanent loan program
What the program covers. For specifics on your build, call me and I'll go through them with you.
The basics
- One closing for construction and permanent financing.
- Interest-only payments during construction, based on what's been drawn.
- Converts to a permanent adjustable-rate mortgage when the build is finished, with a fixed period up front and yearly adjustments after that.
- Financing based on the home's value once it's built, depending on credit, occupancy and the project.
Who and what is eligible
- Primary homes, second homes and investment properties
- Land you already own: its equity can help finance the build
- Teardowns: tear down the existing house and build new
- Not eligible: modular homes
Qualifying
- Full documentation: income, assets and credit
- Assets can be used as income
Draws
- Managed in-house by my team
- Paid directly to your general contractor after the work is in place and inspected
Not a commitment to lend. All loans subject to credit approval, property approval and program guidelines. Terms subject to change.