Construction-to-Permanent Loans

The process has been streamlined, you get up to 12 months of interest-only payments while the home is being built. Once completed, the loan automatically rolls over to a fixed-rate, 30-year mortgage with principal + interest payments due each month. The interest calculated during the 12-month construction phase is calculated on the funds that have been disbursed, not on the total loan amount.

If you already own the lot, its value can be counted as equity in the deal, meaning you may be able to close with little or no cash due at closing and if you prefer, the cost of buying the lot can be included in your total loan amount.

One single closing covers both stages. During the Construction phase, we work with you and manage the disbursement of funds to the builders and contractors, and carry out inspections to ensure everything is being done according to plan!

• Flexible terms – choose any term between 10 and 30 years plus the 12-month construction phase
• Competitive rates – there is no add-on to the regular mortgage rate for the construction component
• Finance up to 80% of completed value of home
• 12-month interest-only payments on disbursed amounts while you build.
• Worry-free disbursements to builder / contractor with your approval.
• Single loan closing for the Construction Loan which automatically rolls over to a 30 Year FR mortgage at end of Construction period. 
• Online payments & account management
• May be used for building a primary residence or a second-home