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Construction Loans NC
The thought of building a new home can be daunting. All that planning. All that work.
And all that money.
At First Bank, we can’t design a floor plan or hang drywall, but we can make that last part a little easier to manage. We offer One-Time-Close Construction to Permanent Loans at all of our North Carolina branch locations as a way of financing your lot, construction, and subsequent mortgage all under one easy-to-manage plan.
One-Time-Close Construction to Permanent Loans
Our One-Time-Close Construction to Permanent Loans offer 12 months of financing through the construction phase with the ability to seamlessly convert to your permanent mortgage once your home is completed. The details of our One-Time-Close Construction to Permanent Loans in North Carolina include:
- A selection of adjustable-rate loan options and a fixed construction interest rate for 12 months
- Interest-only payments during the construction phase
- No penalties for prepaying the loan and a single set of closing costs
- Loans for construction only also offered
Applying for a construction loan in North Carolina is easy with First Bank. Simply gather your financial and property information, then contact a loan specialist to get the process underway or apply online.
If you need more information about One-Time-Close Construction to Permanent Loans before you take the next step, that’s not a problem. We have a collection of articles, guides, and tips about home building and construction loans that are sure to answer any questions you may have. You may also use our mortgage calculator or find a North Carolina mortgage specialist near you.
First Bank is also happy to offer One-Time-Close Construction to Permanent Loans for businesses. Perform new construction, remodeling, expansion, or other projects under flexible terms and competitive rates.
Let us help you manage the financing of your construction project. We’ll leave the rest up to you. Apply online today.
Loans subject to credit approval.
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Sources:
Investopedia: http://www.investopedia.com/terms/f/fixedinterestrate.asp
Investopedia: http://www.investopedia.com/terms/a/arm.asp