The Construction Loan Process
Permanent Mortgage
Once your project is complete, it automatically turns into a permanent mortgage that is predetermined at the closing of the construction loan. Many options are available for this permanent mortgage. There is no prepayment penalty on this predetermined mortgage so it can be refinanced at any time through us at no cost. This benefit of the Construction-to-Permanent Loan process is that it eliminates the hassle of multiple loans.
Congratulations! Your Construction-to-Permanent Loan process is complete and you are ready to enjoy your new home!
