MIDFLORIDA, Your Community Credit Union.

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Construction-Perm Loan

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.

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  • 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

Contact us

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.