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Construction-to-Permanent Loan

Loan features:

  • One year construction period.
  • Monthly draws are disbursed.
  • Payments are interest only until construction is complete.
  • No prepayment penalty.

After the construction period is complete:

  • The principal and interest payments are due for the remaining 29 year payback period.
  • Rate is 0.5% higher than the posted rate and the origination fee is 1% plus the cost of administration and inspections

Ideal for borrowers who:

  • Want to build their own home.

Contact our Home Loan Center at 206-398-5888 or relending@smcu.com for more information or to start your loan application.

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