Building, rebuilding or renovating a home can be an unpredictable and arduous process. Having a loan that can adapt to your needs as you navigate that process is valuable.
Fulton Mortgage Company is offering construction to permanent loans with built-in flexibility for customers in DC, Maryland and Virginia.
Some flexible options include:
- Choosing between and fixed and adjustable rates³ (depending on the size of your loan) available with interest-only payments during construction;
- Locking in your mortgage rate before or after construction²; and
- The ability to choose one-time closing, so that your construction and permanent financing is rolled into one loan.
Fulton Bank Construction Loans include 95% construction financing¹ up to $850,000 and 90% construction financing¹ up to $1.5 million. The loans are available for stick built or modular homes as well as on-your-lot programs (for those working with builders).
For more information about the program, contact Noel Shepherd (NMLS #: 313280) at 202.642.4305 or firstname.lastname@example.org; or visit him online at fultonmortgagecompany.com/noelshepherd.
Fulton Bank, N.A. Member FDIC. Subject to credit approval. This is a construction-to-permanent loan.¹Financing is based on the lower of either the appraised value (fair market value) or contract sales price.²Modification to a fixed rate will require the borrower to pay a one-time modification fee.³Adjustable rates are variable and subject to change.
This article originally published at https://dc.urbanturf.com/articles/blog/the-details-on-the-most-flexible-construction-permanent-loans-in-the-dc-are/18254.
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