Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

One-Time-Close Construction to Permanent Loan

Whether you’re building or adding on, we’ll help you get creative.

Access a loan that’s constructed for homebuilders.

Building a house is a complex process, but First Bank’s One-Time-Close Construction to Permanent Loan takes the hassle out of the financing. Get a single loan and only pay closing costs once for your lot, construction and permanent mortgage.

Perfect for you if:
  • You are building from the ground up.
  • You are financing a primary residence or vacation home.
  • You only want to make interest payments during construction.

Loan Features

  • Construction loan financing for up to 12 months with the ability to convert to a permanent loan.
  • Choose from a variety of fixed or adjustable-rate loan programs.

Loan Benefits

  • Interest-only payments during construction.
  • Fixed construction interest rate for 12 months.
  • No prepayment penalties.
  • A single set of closing costs.

Considerations

  • This program is for financing a primary residence or vacation home.
  • May be used to purchase your lot in addition to financing your construction.
  • Allows you to prepay without penalty.

Terms

  • The loan consists of two phases: the construction phase and the permanent phase.
  • Payments are of interest only during the construction phase.
  • When construction is complete, the loan is modified into a permanent loan.
  • Only offered in conjunction with permanent financing.
  • Loans for construction only are offered.

Apply online today

Applying for a First Bank mortgage is fast, easy and secure. Before you begin, have the following information on hand.

Financial Information
  • Income
  • Your total assets
  • Monthly expenses
Property Information
  • Estimated purchase price and down payment amount (if buying)
  • Estimated property value and loan amount (if refinancing)
Work with a local mortgage specialist

Loans are subject to credit approval.

Trending Topics

The Benefits of Checking Accounts with Online Access

Out of all the factors that tend to influence our decisions regarding financial management, levels of convenience tend to play a heavier role than others. For that reason, online tools, such as access to checking accounts...

Small Business Loans for Women – High Point, NC

First Bank has small business loans for women who want to open a business in the High Point, NC, area. This metropolitan area currently sits at 66th on Forbes list of Best Places for Business and Careers in the nation. Our...

Calculate Your Monthly Mortgage Loan Payment (with Taxes and Insurance)

A mortgage loan calculator with taxes and insurance can help prospective homeowners prepare for the financial responsibility of owning a home. Purchasing a home may be one of the biggest decisions you ever make, so it is...

Raleigh Small Business Loans

Owning a new business or starting a new one in Raleigh is a bright venture, as it’s one of the fastest growing large metro economies in the country. Whether your business is a staple in the community or a budding start-up,...

Your Community Bank – Albemarle, NC

When choosing a community bank to address all of your banking needs, it’s important to consider a bank that’s small enough to know you like a neighbor but large enough to provide a lot of options. Choose First Bank as Your...

Checking and Savings Account in Apex, NC

If you live in Apex, NC, and you’re looking for a great bank to open a checking and savings account, your local First Bank—near the corner of E Williams St and S Hughes St—can help. We offer checking and savings...

First Bank Southern Pines Review

A local bank can be the driving force behind the economy of a small community. With a population of under 14,000 residents and a strong economy—Southern Pines, North Carolina is backed by local banks like First Bank. First...

How To Get A Small Business Loan

If you are an entrepreneur ready to start your own business, or a seasoned small business owner looking to expand, you may need to know how to get a small business loan. Acquiring the funds to start or grow your small...

Jumbo Home Mortgage Loans

If you are thinking of buying a home with a higher property value and can handle larger monthly mortgage payments, a jumbo loan could be a suitable option for you. Jumbo loans are typically offered with the same options as...

Starting Small Business Loans For Women – South Carolina

If you are a women looking to open a business in South Carolina, First Bank can help you with your financial needs. We provide small business loans for women entrepreneurs looking to contribute to South Carolina’s growing...