Our program requires only one closing and provides the ability to lock into the loan product and rate at the beginning of the process.

Client Advantages

• Convenience of a single loan closing
• Ability to lock in rates and terms prior to construction

•  Take advantage of current rates
•  Avoid risk of potential rate increases

• Competitive selection of adjustable-rate and fixed-rate mortgage programs
• Interest-only payments for the first 10 years
• Full control over disbursements to pay contractors, allowing flexibility to cover any alterations during construction¹
• No site inspections required by the Bank
• Ability to borrow against eligible investment portfolios rather than liquidating securities

•  Keeps investment strategy intact
•  Helps to avoid possible capital gains tax

• Opportunity to pledge additional securities for 100% financing of the real estate to maximize potential tax benefits

General Guidelines

• Construction-to-permanent loans

•  $500,000 minimum loan amount
•  Owner-occupied primary or secondary residences, nationwide
•  18 to 24 months to complete construction or renovation
•  Pledge of cash or marketable securities required during construction period

• Appraisal required at time of application

•  “Subject to completion” value based on plans and specifications
•  Land value in the case of new construction
•  “As is” value in the case of renovations

• Appraisal required following completion of construction

•  Updated “as is” value based upon finished home