With Construction-Permanent Mortgages, customers do not have to pay two closing costs, will not need to qualify a second time for permanent financing, and have reduced interest rate risks compared to separate construction and permanent financing.
- Competitive rates
- Borrow up to $417,000 for single-family, one-unit properties
- LTV up to 95% for qualified buyers*
- Eligible terms include 30 years with interest only up to 11 months with loan then converting to a fixed-rate mortgage for permanent financing*
- Loan options for multi-unit properties
- Contact a Community Mortgage Network member bank for more information:
Call 1-800-440-6678 or Email email@example.com
- Disclosure Information
For a Construction-Permanent Loan, interest only $150,000 at 6% would be a payment of $750.00.
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