Scalero Custom Homes

Construction Permanent Financing

Because we want your entire building process to go as smoothly as possible, we recommend lenders who value their client relationships and have the best financing programs available.

Construction Permanent financing is the industry standard to finance the construction of a custom primary residence providing both the construction financing and permanent loan. There are many available programs including 30-year fixed CP loans and Adjustable Rate options as well. Some lenders provide a "One-time Close" CP loan, while others may offer separate construction and permanent loans to fit your needs.

The required down payment may vary by bank and your preferred loan program. The most prevalent type of CP loans look for a 20% down payment. There are several local banks with the flexibility to look at your unique financial situation and determine if you would qualify for a lower down payment program.

One benefit of a Construction to Permanent Loan is you can lock in the permanent rate at closing, and have up to 18 months to complete your new home construction. During this period, interest is charged only on the funds that have been disbursed. When the construction is completed, the permanent loan period begins. For more information, please feel free to contact one of our recommended loan officers today.

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