Build your dream home with the right financial foundation. The Naveo Construction-to-Permanent loan is one loan that encompasses the lot purchase, construction and mortgage. This loan is also suitable for the rehab of an existing home.
Features
- Fixed construction interest rate for up to 12 months
- Terms available with fixed rates up to 15 years
- Up to 12 months for construction phase
- 29-year regular mortgage to follow
- One set of closing costs
- No prepayment penalties
- Flexible loan disbursement schedule
- Pay interest only on the funds borrowed for the time borrowed
Construction-to-Permanent Minimum Requirements:
- Property must be one-to-four units, owner-occupied home
- Borrower’s minimum equity or cash contribution of 20%
Note! For more information, contact us at 617-547-3144.