Construction-To-Permanent Loan

At CoreFirst, we love helping families realize dreams. If building your own home is part of your financial journey we can help with the process by combining the financing of your lot, the construction period and your permanent mortgage into one loan, with one closing. 

Benefits of Construction-To-Permanent Loan:

  • Eliminates the need to acquire multiple loans to finance home construction
  • Interest rate is locked in during construction process
  • One loan closing, closing fees are paid only one time
  • Payments are interest-only during the construction phase

Visit with one of our Mortgage Loan Officers to get the process started. Our mortgage experts are great resources and can guide you through the entire process.

Once you have all of the specifics and are ready to apply, the following items may be needed to complete the application process. 

  • Copies of paystubs
  • W-2s
  • Tax Returns
  • Bank Statements
  • Information on debts
  • Security Accounts
  • Collateral package information
  • Construction-To-Permanent loans are not available in all market areas and are subject to certain restrictions
What properties can be financed?
Single-family homes.

Do I have to own my lot?

No, you do not have to own the lot prior to closing.  The lot may be purchased simultaneously.

I paid cash for my lot. Can I get cash back at closing?
No. Can be considered as equity and credited towards your down payment.

Are payments made during construction?
Monthly, interest payments based on the funds disbursed.

What happens if my project is not completed prior to the maturity of the construction phase?
You may request an extension, although an extension is not guaranteed. Extension fees may be assessed.

 

 

Click Here for a complete list of CoreFirst Mortgage Loan Experts.


  • Home Loans are subject to application and approval. 
  • Construction-to-Permanent Home Loans are not available in all market areas and are subject to certain restrictions.
  • CoreFirst Bank & Trust NMLS# 739177