Sometimes One is Better Than Two. One loan. One closing.Especially when it comes to construction, renovation or rehabilitation financing.
That's why Silverton Mortgage is proud to offer a Construction-Permanent Loan that is designed to streamline your experience.
Two Phases. One Loan.
Here's How It Works:
The construction phase of your loan is designated for a specific amount of time.
During construction, funds are dispersed to you or your builder directly.
Upon the completion of your home, along with meeting the conversion requirements, your loan converts to the permanent phase.
One loan means one set of documents and one closing, saving you time and money. The loan is closed in your name with interest-only payments during the construction phase.
Property types that are eligible for CP Financing include:
- Single Family
- Detached Primary Residences
- Second Homes
Project types that are eligible for CP Financing include:
- New Construction
- Home Improvements/Renovations
- Tear Downs
During conversion to the permanent financing, you may be eligible for a FREE, one-time Float Down Option of your interest rate.
Through the “Rate Cap w/Float Down” option, you may exercise this option and ask your CP Certified Loan Officer to see if rates are better and “float down” your rate.
This means that if interest rates fall before reaching the Permanent Phase of your loan, we'll apply the new rate to your loan terms!
You've Got Questions? We've Got Answers!
Contact one of our Certified Loan Originators below to help get you started!
|Dawn Beck NMLS ID: 377773, GRMA: 32039
|Stephanie Gwin Gant NMLS ID: 184503
|Jennifer Johnson NMLS ID: 190999, GRMA: 25355
|Lori Beardslee NMLS ID: 169631, GRMA: 27762
|Sharon Lintault NMLS ID: 216210, GRMA: 24397
|Carrie Powers NMLS ID: 152329, GRMA: 24419
|George Beylouny NMLS ID: 224551, GRMA: 25184
|Karen O' Donovan NMLS ID: 878499
|Shelly Quinn NMLS ID: 82838
|Susan Wingfield NMLS ID: 374708, GRMA: 30940
|Jerry Elinger NMLS ID: 178062, GRMA: 27297
|Jason Huffman NMLS ID: 119612
|Anthony Crumpton NMLS ID: 1047447
|Pyper Macloskie NMLS ID: 926801, GRMA: 51939
|Amy Wilemon NMLS ID: 226390, GRMA: 26403
|Holly Lott NMLS ID: 412222, GRMA: 49439
firstname.lastname@example.org, 706-250-5030 x444
|Richard Terzo NMLS ID: 1017874
|Gareth Thomas NMLS ID: 177403, GRMA: 26966