NewBridge Bank Construction to Perm flyer

Construction
to Permanent
Mortgage
Loans
If you’re looking for a mortgage for the construction of your new home that can be easily converted into a permanent
mortgage after the construction is completed, a Construction to Permanent Loan may be the right loan for you.
Construction to Permanent loans feature:
•The ability to complete just one loan application
•One closing allowing you to save on closing costs
•Our custom float down option that allows you to relock your rate at modification to a
potentially lower market rate for your permanent loan.
•A construction term with rate protection for up to 15 months
•A fixed interest rate and interest-only payments during the construction phase
•The flexibility for you and your builder to decide who draws are paid to
•Conversion to a permanent loan without requalifying for qualified borrowers
Construction to Permanent loans are right for:
•Homebuyers who are planning to build their own homes
•Buyers who want the convenience of a single loan process for the construction of their
homes and for their permanent mortgage
•Borrowers who want to lock in their mortgage pricing at the beginning of
construction through closing
Alan Efting
NewBridge Bank
704 S College Road
Wilmington, NC 28403
Office: 910-509-0405
Cell: 910-232-0253
Fax: 910-509-0406
Email: alan.efting@newbridgebank.com
MOR-06-V0411
www.newbridgebank.com