Construction-to-Perm (CTP) Loan
Building a new home? Renovating the one you have? With a 1st Signature Lending's construction-to-perm loan, your lot, construction and mortgage financing can be covered in a single loan.
Build Your Home:
If you're looking to build and finance your primary residence, a 1st Signature Lending construction-to-perm loan may be right for you. You can even finance a land lot into the construction loan.
- Interest-only payments during construction
- Fixed construction interest rate for up to 6 months
- Fixed and adjustable-rate loan options
- No prepayment penalties
- A single set of closing costs
The following housing requirements must be met to qualify for a 1st Signature Lending construction-to-perm loan:
- Your new home must be a one-unit, single-family detached home.
- It must become your primary residence.
- Your builder of choice must be a licensed builder approved by 1st Signature Lending.
How It Works
- Help Locate a Lot to Purchase
- Help Provide Support throughout the Process
- Provide Floor Plan Options
- Provide a Custom Design Team
- Prepare Building Specifications
- Prepare Contracts
- Secure Permits
- Prepare Building Site Plan
- Manage the Project.
- Give Upfront Loan Approval
- Order Construction Title Work
- Coordinate Appraisal
- Manage Construction Inspections
- Facilitate Construction Loan Closing
- Fund the One-Time Close Construction Loan
- Two years W2 or 1099
- Most recent month's Paystubs
- Two months Bank Statement
- Two Years Tax Returns
Additional documents may be required, depending on your unique situation.