| 30 Year Fixed Construction |
| Monthly draws during the construction term
Interest Rate locked before breaking ground
Interest-only payment required during construction phase
Loan re-qualification is not required upon completion
Rate float-down available when construction is complete
Option to pay down your principal balance at conversion to permanent mortgage |
| Building a primary residence or second home
Wanting to finance the lot purchase or lot payoff, home construction costs and a permanent mortgage into one loan
Looking for a loan for new construction and you plan to hire a Licensed Builder
Interested in 12 or 18-month build period |
| Increase in loan amount not available
Must hire a Licensed Builder for entire home building project. |