*Construction Loan Special Details:
Must be owner-occupied
Occupancy: Owner-occupied, Single-Family Residence
Terms: Single-close transaction with a 12-month construction term. During construction, the borrower makes interest-only payments on funds advanced. After the construction term, the loan converts to permanent principal-and-interest financing with an amortization term ranging from 15 to 30 years. Private mortgage insurance (PMI) is required when equity is less than 20%.
Example: With a 5% down payment, a $375,000 loan at a 6.75% interest rate and a 6.802% annual percentage rate (APR), effective 09/18/2026, would require up to 12 monthly interest-only payments of $2,109.37 during construction, followed by 360 monthly principal-and-interest payments of $2,432.24. Payments do not include taxes, property insurance premiums, or PMI premiums. Actual payments will be higher.
All mortgages are subject to credit approval and property appraisal. Interest rates, annual percentage rate, program terms, and conditions are subject to change without notice. Other restrictions may apply.