Construction-to-permanent loan

Lock in a great rate before you build

When you’re ready to build your dream home, we’ve got you covered from the ground up. Our simplified process ensures you lock in a great rate before construction begins and saves you time and money with just one closing.
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At a glance

Choosing the Right Mortgage

A construction-to-permanent home loan allows you to shop for just one loan when building a new home, covering the financing during construction and transitioning into a permanent loan when complete. Let us help you evaluate your options and find the perfect mortgage solution.
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One time closing

Save time and money with one single closing for both the construction loan and the permanent mortgage.

Down Payment Options

Down payment options as low as 10% for fixed-rate loans and 20% for adjustable-rate loans.*

Lower Payments During Construction

During the construction phase, you'll make interest-only payments until the loan converts to a permanent mortgage.
Rates

Construction-to-Permanent Loan Rates as low as 6.125% (7.114% APR)*

First Steps

How to Get Started

Getting started on a mortgage is simple when you know the key steps to take, from exploring your options to submitting your application.
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Get Pre-qualified

Take the guesswork out of your home search. By knowing how much you can afford, you can find the perfect home that fits your budget and be one step closer to moving in. Start your application now and we'll be happy to walk you through the next steps.
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Mortgage specialists

Find Your Perfect Mortgage with Expert Help

Not sure which mortgage loan is right for you? Our Mortgage Specialists are here to guide you every step of the way. Contact a local expert to get personalized advice and find the loan that fits your needs. Locate a Mortgage Specialist or call (863) 688-8443 or toll free (855) 915-4663.
Couple meeting with MIDFLORIDA Mortgage Specialist. They are sitting at desk with documents and a digital tablet presentation.
Number one

Let's Chat

Answer a few simple questions and we will connect you with a mortgage expert to help find the perfect product for your needs.
Number two

Processing Your Application

Once we've matched you with the right product, we will guide you through every step, helping you gather the necessary documentation to process your application.
Number three

Approval & Funding

When you find your dream home, our team will guide you through the mortgage closing process, ensuring all final steps are completed smoothly.
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Estimate Your Monthly Payment

Use the calculator below to calculate what your monthly payment might be once the loan converts to a permanent mortgage.
More Loan Types

Explore Other Mortgage Options

Consider these additional mortgage loan options that might be a better fit for your financial situation.

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Fixed-Rate Mortgage

Financing with a fixed-rate mortgage provides you with the stability of always knowing what your principal and interest payments will be each month.
Learn more
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Jumbo Mortgage

When buying a more expensive home, a jumbo loan may be the option you need. 
Learn more
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Lot Loan

Secure your perfect piece of land with a lot loan. You'll make affordable payments and build when you're ready.
Learn more

First-time homebuyer

Curious about the home-buying process? Discover what to expect from your real estate agent, mortgage loan officer, and your own role.
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How to get a loan

Ready to secure your mortgage? Learn all about the loan process from application to funding in our step-by-step guide.
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Mortgage Checklist

Make sure you're fully prepared. Check out our complete list of the documents and information you'll need to gather for a smooth mortgage loan process.
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Planning for Homeownership

Start planning for your future home today with tips and advice on where to start from our mortgage experts.
Read More
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Insights and Tips from Our Blogs

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*MIDFLORIDA Credit Union Membership, eligibility, and credit approval required. Available for construction of primary and secondary single family residences. Payment Example: A 30 year fixed rate construction to permanent loan for a primary residence based on a minimum credit score of 720 for $300,000 with 10% down at 7.500 % and an Annual Percentage Rate (APR) of 7.619% has a monthly payment of $2,097.64 which includes principal and interest. Payment example does not include taxes, insurance premiums, or mortgage insurance premiums; actual payment will be greater. Advertised terms are valid as of November 15, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details. 
Available for primary residence. 6.125% is a 1-year promotional rate. Payment example: Based on a minimum credit score of 700, a 1-year adjustable-rate mortgage construction permanent loan for $300,000, with a minimum 20% down at 6.125% interest rate and an Annual Percentage Rate (APR) of 7.114%. The monthly principal and interest payments are $1,822.83 during the first 12 months. The interest rate may adjust once every 12 months thereafter, based on the 1 year US Treasury Bill rate (4.310% as of November 15, 2024) plus a margin of 2.75%, with a maximum interest increase of 6% over the rate at closing. The monthly payment amount after the first adjustment based on current rates will be $2,016.91 and the highest possible monthly payment during the life of the loan could be $3,066.00. Payment example does not include amounts for taxes or insurance premiums; the actual payment will be greater. Promotional Rate and margin may vary based on credit history and underwriting guidelines. Advertised terms are valid as of November 15, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details.