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HomeStyle Construction to Permanent

One-Time Close Construction Financing

Americans are building new homes at record levels. With a HomeStyle® Construction-to-Permanent (C-to-P) Mortgage, you can be one of them. You can finance the purchase of land, construction of a new home, and a permanent mortgage at one time. This saves you money and time by having just one loan approval and one loan closing. It also gives you the peace of mind to know that you already have a permanent mortgage in place before your new home is finished. You can even lock in an interest rate before construction begins. Compare this to the added costs and aggravation of having to get separate loans for the land acquisition, the construction costs, and the permanent mortgage.

Key Features:
  • A HomeStyle Construction-to-Permanent Mortgage is available for a home that you will live in as your primary residence, as well as certain other properties. You can borrow money to build a home from the ground up, or to finish building a home that is currently under construction.

  • You can select from a fixed-rate mortgage with a term of 15 or 30 years, or a 30-year adjustable rate mortgage (ARM) that has annual rate adjustments after the 3rd, 5th, or 7th year. You have one set of closing costs and can lock in the interest rates on the construction phase and the permanent mortgage at the same time.

  • This mortgage can also cover the cost of buying the land on which your house will be built. The construction phase can be financed for 6, 9, or 12 months and extended for up to 6 more months for an additional fee. During construction, you pay only the interest on the funds you actually receive. This means lower monthly payments as your home is being built. Or with the interest reserve option, you can delay paying interest while you continue to pay the mortgage on your existing home.

  • You can borrow up to 95% of the land acquisition plus construction cost of the home, which means your down payment may be as low as 5% of the amount of the mortgage.

Consumer Benefits

  • Borrow up to 95% of the land acquisition plus the construction cost of the home
  • Lock in the interest rate for the full term of the mortgage before construction begins
  • Save money by paying only one set of closing costs
  • Eligible borrowers can finance soft costs and interest reserves

Related Products



2006 Conforming Loan Limits

Number of
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925



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10721 Jackson Lane, Frisco TX 75035

214-387-0683EMAIL: info@brown-lending.com


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