Building your dream home is an exciting venture, but it can also be complex without the right financing in place. At Woodruff Federal, our construction-to-permanent loan is designed to simplify the process, combining the benefits of a construction loan with permanent financing. Here’s why this loan option might be the perfect fit for your home-building project.
One Closing for Simplicity
Our construction-to-permanent loan eliminates the need for multiple closings, which saves you time, money, and stress. With just one closing, you transition smoothly from the construction phase to permanent financing without the hassle of applying for a new loan.
No Application Fees
Unlike many other lenders, Woodruff Federal does not charge any application fees. We believe that additional fees should not stand in the way of your dream home.
No PMI Required
Just like our standard mortgage products, our construction-to-permanent loans do not require Private Mortgage Insurance (PMI). This can significantly lower your monthly payments and reduce the overall cost of your loan, giving you more financial flexibility during and after construction.
Competitive Closing Costs
Our closing costs are typically less than those of commercial lenders, providing you with more savings that can be used toward your home’s finishing touches or other expenses.
Get Started on Building Your Dream Home Today
If you’re ready to turn your dream home into a reality, contact Woodruff Federal to learn more about our construction-to-permanent loan options. We’re here to guide you through every step of the process, from groundbreaking to moving in.
