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Construction-Permanent

Sometimes One is Better Than Two. One loan. One closing.

Especially when it comes to construction, renovation or rehabilitation financing.

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. That’s one set of documents and one closing, saving your buyers time and money.

 

Two Phases. One Loan.

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.

  • During construction, funds are dispersed to either the client or builder directly.

  • 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
  • One-Unit
  • 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, the borrower may be eligible for a FREE, one-time Float Down Option of the interest rate.

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!

 

You've Got Questions? We've Got Answers!

Frequently Asked Questions

Contact one of our Certified Loan Originators below to help get you started!

 

Amy Wilemon | NMLS 226390, GRMA 26403
404-601-4177
amy.wilemon@silvertonmortgage.com

Arnold Martin | NMLS 170594, GRMA 26472
678-381-1173 x760
arnold.martin@silvertonmortgage.com

Aubrey Wilcox | NMLS 1680332, GRMA 59442
678-701-8899 x633
aubrey.wilcox@silvertonmortgage.com

Carrie Powers | NMLS 152329, GRMA 24419
(404) 601-4159
carrie.powers@silvertonmortgage.com

Christine Santos | NMLS 185406
910-264-8232
christine.santos@silvertonmortgage.com

Donna Quigley | NMLS 242492, GRMA 25074
678-389-8850
donna.quigley@silvertonmortgage.com

Gareth Thomas | NMLS 77403, GRMA 26966
770-517-3955
gareth.thomas@silvertonmortgage.com

George Beylouny | NMLS 224551, GRMA 25184
678 626-0318 302
george.beylouny@silvertonmortgage.com

Holly Lott | NMLS 412222, GRMA 49439
706 250-5030
holly.lott@silvertonmortgage.com

Jackson Booth | NMLS 593551, GRMA 46238
678-942-0031
jackson.booth@silvertonmortgage.com

Jason Huffman | NMLS 119612
910-367-5622
jason.huffman@silvertonmortgage.com

Jeremy Hyde | NMLS 971129, GRMA 61250
678-497-4664 x743
jeremy.hyde@silvertonmortgage.com

Karen O’Donovan | NMLS 878499
843-492-4747
karen.odonovan@silvertonmortgage.com

Leighton Johnson | NMLS 319563, GRMA 29791
912 342-2400
leighton.johnson@silvertonmortgage.com
Lori Beardslee | NMLS 169631, GRMA 27762
770-527-1375
lori.beardslee@silvertonmortgage.com

Maureen Swindall | NMLS 1702107, GRMA 71305
803-369-8644
maureen.swindall@silvertonmortgage.com

Mary Hyson | NMLS 190198
910-367-5600
mary.hyson@silvertonmortgage.com

Pyper Macloskie | NMLS 1732265, GRMA 51939
678-323-1444
pyper.mackloskie@silvertonmortgage.com

Rehnee Herr | NMLS 1583670, GRMA 54937
706-844-1300
rehnee.herr@silvertonmortgage.com

Reid Clark | NMLS 220536, GRMA 25872
678-448-4195
reid.clark@silvertonmortgage.com

Roy Anderson | NMLS 82255
704-626-2444 x496
roy.anderson@silvertonmortgage.com

Ryan Anderson | NMLS 1825992
910-367-5622
ryan.anderson@silvertonmortgage.com

Shelly Quinn | NMLS 82838
704-626-2444 x490
shelly.quinn@silvertonmortgage.com