Using a Conventional Single Close Loan to Build Your 1st or 2nd Home

Mortgage and Lending NMLS #209419

What is a Construction to Permanent Loan? A conventional Construction-to-Permanent (C2P) loan is used to finance the construction of a new primary or secondary residence and permanent mortgage all into one single transaction with one closing. The homeowner is approved for a Conventional C2P loan if the homeowner is qualified for the long-term permanent Conventional financing. 


Upon completion of construction, the borrower will be required to modify the interim construction loan (ICL) into a permanent conventional fixed rate loan. There will be no additional closing or closing costs required. This loan is available Nationwide


Loan Requirements

  • 30% down payment or 70% LTV based on Total Acquisition Cost of Land & Home Construction Cost – We Also offer our 5% down Construction loan too.  Call me for details.
  • 700 Mid-FICO Score Required.
  • 9-month build time from date of closing and funding.


Property Requirements & Limitations

  • Single Family Residence – Primary OR Second Home
  • Site built homes only, no manufactured homes and Modular homes on an exception basis
  • Loan amounts up to conventional conforming and high balance loan limits for your state and county
  • Gifted land allowed.
  • Pool construction allowed. Restrictions apply.
  • Lot/Land owned by the borrower for less than 12 months will be valued at the cost of acquisition or the appraised value whichever is less.
  • No Self Builds - All Builders must go through a one-time approval process if not already approved
  • Builder owned and/or investment properties are not eligible.

Homeowner receives a bill monthly for construction interest accrual based upon funds dispersed thru the draw process to the builder.  Call us today for more Details

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