North Carolina Construction Loans

Construction loans are used to construct a building or for improvements of real property, and the land and improvements stand as collateral for the loan.

Often, getting approved for a construction loan can be tricky, In many cases, two loans are required: one for construction and one for permanent financing. Usually you will have to pay closing costs on both loans, not to mention the extra paper work, time, and hassle involved. We offer our Construction to Permanent (CTP) loans that combine both construction and permanent financing into one loan.

Available for either your primary residence or second home, this is the perfect loan for the homeowner looking to do a major remodel of their existing home or the purchase and ground up construction of a new home. This program allows for a construction period of 6 to 12 months. And when your project is complete, the loan simply converts to a permanent mortgage.

Rate Improvement Option: Our 15 and 30 year fixed rate loans, as well as our 3/1 adjustable rate loans all offer a rate improvement option. Simply put, your interest rate during construction is also your maximum permanent interest rate, providing you protection against interest rate volatility during your construction period. And if interest rates go down during your construction period, the Rate Improvement Option allows your interest rate to roll down to current market rates at the time your loan converts to permanent, all with no additional cost. It's the best of both worlds.