Construction Perm Loan
So that you can worry less about financing and focus more on the details of your new home. In addition to long-term rate locks, we can offer a one-time close that helps clients save money by not paying two sets of closing costs.
This is similar to our construction offering, but is for the renovation or repair of an existing home; it features a “subject to” appraisal so that the value includes the proposed improvements. Draws are handled by Coastal Home Mortgage directly to your builder.
The purchase of a house that needs repairs/updating is often a catch-22 situation, because the mortgage company can’t lend the money to buy the house until the repairs are complete, and the repairs can’t be done until the house has been purchased. Learn More!
Building a new home can be an exciting prospect. Coastal Home Mortgage offers land-only financing as the first step toward building your dream home or vacation getaway. Our Lot loan will allow you to purchase the lot while continuing the process of finalizing your construction plans.