Construction to Permanent Loan

Contact a Mortgage Originator

A specially designed loan when building your unique home

Get financing that covers building costs and then transitions to a regular mortgage

Easy, streamlined process
Cover all your new home financing needs with one loan, one closing and one affordable rate.
Range of choices
Up to 90%* financing is available on both fixed-rate and variable-rate construction loans.
Borrower-friendly terms
Make interest-only payments during the construction phase.

Imagine your dream home - and then make it happen

In search of the perfect place? Chances are good that you might decide to build something brand new. We can work with you and your contractor on a customized loan that covers materials and labor. When you're ready to move in, that loan will seamlessly switch to a permanent mortgage at a rate locked in at the start of the building process. Just bring us your blueprint, and our experienced mortgage team can help nail down all the details.

Get Our Mortgage2Go App

Simplify the mortgage process with our helpful app.

  • Real-time loan status updates
  • Automated reminders when items are due
  • Scan and securely send documents with your phone
  • And much more!
Get our Mortgage2Go App on Google Play Download our Mortgage2Go App on the App Store
Inquire through Mortgage2Go

FAQs

Carter Bank offers both fixed-rate and adjustable-rate conventional mortgages, giving you flexibility in monthly payments and long-term budgeting. Schedule an appointment with one of our Mortgage Loan Originators to learn more about rates.

You can speak directly with one of Carter Bank’s Mortgage Loan Originators, either by phone or by scheduling an appointment at a local Virginia or North Carolina branch. They’ll guide you through the application process and answer all your questions.
When work is completed by the builder, the predetermined allotment of funds will be requested. An inspector will go on site and confirm that the work is completed, a draw disbursement form will be signed/completed and funds will subsequently be released.
Once the build is complete and the final inspection/appraisal is done, your loan will automatically convert into a permanent, fully amortizing mortgage. At that point, you’ll begin making principal and interest payments based on your original loan terms.
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*With Single Premium Mortgage Insurance

All loans are subject to credit approval.

Mortgage2Go is subject to additional terms and conditions.

Carter Bank is a full-service financial institution with locations throughout Virginia and North Carolina.

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