Build your dream home with our one-time closing Construction to Permanent loan
Construction to Permanent loans are a one-time closing. While your home is being built, you will pay the interest at the rate that you received at application. Upon completion of your home, your loan will be modified with new terms and the final interest rate will be set for the remainder of your loan. Your permanent interest rate will be based on credit scores, loan to value, and the market at the time your loan switches to a permanent loan after completion of the construction.
- Interest-only payments while your home is being built
- Fixed construction interest rate for 12 months
- 10, 15, 20, and 30 year fixed rate options
- 5% down payment with Private Mortgage Insurance (PMI)
- 20% down payment with no Private Mortgage Insurance (PMI)
- No prepayment penalties
- Additional principal payments accepted
- Loan servicing remains with Abbeville Building & Loan, allowing you to call, pay, and contact us for any of your servicing needs
From acquiring land to completing construction, Abbeville Building & Loan provides flexible and affordable financing options to help our customers make their vision a reality. With a team of experienced personnel and a commitment to providing exceptional customer service, Abbeville Building & Loan is dedicated to helping customers navigate the construction process and achieve their homeownership goals. Abbeville Building & Loan offers loan options in most of the state of Louisiana.