Construction-to-Permanent Loan

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Your One-Stop Shop for Building A Home

If you're looking to build your dream home, our Construction-to-Permanent loan is the product for you. This unique financing option begins as a construction loan that allows you to build your home from scratch, then converts to a traditional mortgage once construction is complete. This loan does require that you use a builder, rather than serve as your own general contractor.

The best thing about this loan is that it features one-time closing, meaning there's no need to re-qualify for long-term financing and your permanent rate is locked in before construction even starts. After you've identified your builder, you'll make interest-only payments and disbursements will be made to the builder based on a pre-determined schedule to cover the cost of the build. When construction is complete, the loan converts to your traditional mortgage with scheduled monthly payments of principal and interest plus escrows, if applicable.

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Loan Benefits

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Lock In Your Rate from Day One

Know your mortgage rate before you break ground, saving you from surprises down the road.
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Save Time and Money

One-time closing means there's only one set of closing costs and one set of documents to sign.
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Flexibility in Financing

Everyone's situation is different. Choose between a fixed or adjustable rate mortgage loan.
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Interest-Only Payments

Don't worry about making full payments until construction on your new home is complete.

Homebuilding Resources

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Empower Blog: Homebuilding 101

What to know (and do) if you're considering building a new home.
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Empower Blog: What's in a Mortgage?

The three key financial aspects of a mortgage.
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Mortgage Affordability

Determine how much of a mortgage you may be able to obtain.
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Mortgage Payment

Do the math to find out your potential monthly mortgage payment.
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Homeowners Insurance

Make sure your home sweet home is covered.

Revisiting your mortgage rate is also a great time to review your homeowners insurance policy to make sure your home, and everything in it, is well protected. Our friendly, local Insurance Agents are here to help you find the right coverage for the right price. It’s quick and easy to get a free quote online, or get in touch if you’d like a more customized plan1.
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Construction-to-Permanent Loan FAQs