Construction-Permanent Loan


Designed for licensed contractors working in new construction, home renovation, or teardowns with rebuilds, our Construction-Permanent (CP) Loan allows all financing (including land acquisition) to happen under one loan for your client. That’s one set of documents and one closing, saving your buyers time and money.

Here's How it Works:

  • The loan is closed in the buyer’s name with interest-only payments during the construction phase.
  • The construction phase of the loan is designated for a specific amount of time.
  • Upon the completion of the home, along with meeting the conversion requirements, the loan then converts to the permanent phase.

Property Types that are Eligible for CP Financing Include:

  • Single-Family
  • Detached Primary Residences
  • One-Unit
  • Second Homes

Project Types that are Eligible for Construction-Permanent Financing Include:

  • New Construction
  • Home Improvements/Renovations

Option to lower your locked interest rate once before closing if it becomes available. The borrower may exercise the rate cap with float down option by asking their Construction-Permanent Certified Loan Originator to see if rates are better and float down the rate. This means that if interest rates fall before reaching the permanent phase of the loan, we’ll apply the new rate to your loan terms!

All loans are subject to credit approval.