Is a new construction loans mortgage right for you?

About New Construction Loans

Construction and Permanent financing in one Mortgage. Single closing, where the consumer pays interim construction financing on an interest only basis during the construction phase and the loan is converted to Permanent Financing when the home is complete.

When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.