Our dual-phase CP financing combines construction financing and mortgage financing into one loan. You’ll make interest-only payments on the outstanding principal during the construction phase and—once construction is complete—convert into the permanent loan phase (additional documentation requirements may apply). And with our one-time closing process, you can save time and money.
Regardless of your home-building needs, our financing programs are designed for your unique circumstances. Construction loan program options include fixed or adjustable rate products with the option to float down. (ARM interest rates may increase after consummation)
- ‘Float Down’ Option. Lock in a mortgage before construction begins with a one-time option to lower or “float down” the permanent interest rate (i.e. relock to the current market rate if it is lower than the original locked-in rate). Additional fees may apply.
Call 877.907.1043, email us or find a loan officer serving your community to learn more about Construction-To-Permanent financing with SunTrust Mortgage.