Construction-To-Permanent Loans

Whether launching a major renovation, adding on to your home or building from the ground up, Construction-To-Permanent (CP) Loans from SunTrust Mortgage are designed to help you finance the home you always imagined.


Advantages of CP Loans:

  • One-time closing process can save on recording fees and other closing costs compared to having separate closings for construction and permanent loans
  • You may be able to avoid paying origination fees at closing with a higher interest rate selection
  • You pay interest-only payments on the outstanding loan principal during construction
  • Construction loans don’t tie up builders’ funds and could potentially reduce the cost of the home

What you'll need to consider:

  • Single-unit, detached, primary residences and second homes are eligible
  • Construction loans may be for new construction, home improvements and new purchases, including teardown
  • Fixed-rate or adjustable-rate products with a one-time interest rate float down option
  • When construction is complete, the construction loan will convert into a permanent phase subject to meeting qualification standards of the permanent product; updated documentation may be required at the time of conversion
  • $3 million maximum loan amount available for certain loan programs (some programs have lower maximum loan amounts)
  • These loans are available in Alabama, Arkansas, Washington, D.C., Delaware, Florida, Georgia, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia
  • Monthly payments of interest only will not reduce the principal owed
  • Adjustable Rate Mortgage (ARM) products have interest rates that may increase after consummation.


Call 877.907.1043, email us or find a loan officer serving your community to learn more about Construction-to-Permanent financing.