SunTrust Bank Home SunTrust Bank Home

Home Improvement Construction Loans

Whether launching a major renovation, adding on to your home or building from the ground up, Home Improvement Construction Loans from SunTrust Mortgage are designed to help you finance the home you always imagined.

Advantages of Home Improvement Construction 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.

Resource Center

  • Who takes the financial reins for aging parents?

    Welcome to the latest generational Catch-22: older parents for whom money matters are a taboo topic, surrounded by their adult children who balk at broaching the topic for fear of appearing to be more concerned about the money than the parent’s well-being

  • Helping your kids manage student loan debt

    In 2016, nearly seven out of every 10 graduating seniors needed to borrow for their educations and are on average saddled with in excess of $37,000 of student debt as they enter the workforce. Not only does this emerging “debt crisis” place an immediate h

  • How the Right Financial Plan Helps Manage Your Goals

    Having awareness of your current financial standing and an effective long-term plan can help you navigate life’s changing—and at times challenging—circumstances.

  • Whitepaper: Strategic Moves and Tactical Overlays

    Using short-term allocation adjustments to capture opportunities and mitigate portfolio risk.

  • Is Your Non-Profit Getting the Best Credit Terms Possible?

    Along with strong fiscal management and a commitment to maintaining a positive cash flow, one of the most effective methods for ensuring adequate resources to fund capital projects or meet working capital needs without subjecting your organization to exce