New Construction Loans

A First National Bank Mortgage Construction-to-Permanent loan allows the builder to construct your home,
while giving you the option to convert to a permanent home loan at the end of the construction project.

You may finance up to 95% of your home’s appraised value or cost (whichever is less) for up to $1,250,000. You may also finance 80% of the appraised value or cost (whichever is less) for up to $2,000,000. Loans over $2,000,000 available on a case-by-case basis.

During the construction process, the mortgage borrower pays interest-only payments based on the amount drawn for the loan.

Build Your Dream with a Construction-to-Permanent Loan

  • New home construction loans for those who want to build their dream home
  • Additions to existing homes adding $25,000 or more
  • 60 days from construction completion, qualified borrowers may lock on a fixed 15-year or 30-year loan. There are also a variety of other ARM products to choose from.
  • Borrowers must qualify for a loan with existing and proposed housing expenses
  • Construction-to-Permanent Loans are processed, underwritten, closed, funded, and drawn at First National Bank’s Loan Origination and Processing office
  • Progress inspections are completed by an independent inspector prior to releasing funds
  • No per-draw fees and funds are wired directly into your construction account
  • Choose a construction term of 12 or 18 months
  • Extensions available for extenuating circumstances
  • Unlike traditional construction loans, applicants pay closing costs once with the Construction-to-Permanent Loans.
  • Three and five year Adjustable Rate Mortgages are available on Portfolio products