Construction to Permanent Loans

One-time close NEW home construction financing

Construction to Permanent Loans 

Building a new home just the way you want it—now that is exciting. Getting the right loan, on the other hand, can be frustrating. When you team up with Fidelity Bank, we take the hassle out of financing your new home. Our Construction to Permanent Loan allows you to lock in your interest rate and terms with a single closing, from construction to your final amortized mortgage.

With Construction to Permanent Financing, you can:

• Protect against rising interests rates
• Save time and money with one approval and one closing
• Incur lower, possibly tax deductible, interest charges during the construction period*
• Make interest-only payments for up to 12 months just on the amount drawn during construction
• Builder manages the construction process and works directly with the bank
• Use the equity in your lot and land, as well as your builder deposit as a credit toward the down payment
• Reduce the principal balance using the proceeds from the sale of your existing home when converting to a permanent loan

*Consult your tax advisor regarding deductability.