Enjoy the convenience of one loan, one set of closing costs and one closing date.
Building houses, financing homes
A Construction-to-Permanent loan allows you to shop for just one loan when building a new home. It covers the financing during the building process and then transitions into a permanent loan once construction is complete, saving you the additional time and closing costs on two separate loans.
- Up to 95% financing
- Jumbo loans (over $417,000)
- Interest only payments through the construction period
- Locked rates with float down option available 1
- No intangible tax
- One step, one time closing
- Close in 30 days
- Local processing and underwriting
Questions? Call us for details at (863) 688-8443 or toll free (855) 915-4663.
A $5 deposit is required for membership with MIDFLORIDA Credit Union and access to a mortgage. Primary homes only. Payment Example: A 30-year fixed-rate construction to permanent loan for $200,000 with 5% down at 5.125% and an Annual Percentage Rate (APR) of 5.876% has a monthly payment of $1,129.16, which includes principal, interest, and private mortgage insurance.
1. Borrower must qualify for lower rate at time of modification.