Build Your Dream Home with One Loan and One Closing
At North Star Mortgage Network, we believe your dream home should come with a stress-free financing experience. That’s why we proudly offer construction perm loans—a powerful solution that simplifies the homebuilding process by combining construction and permanent financing into one seamless loan with a single closing.
What Are Construction Perm Loans?
A construction-to-permanent loan, or “construction perm loan,” is designed to eliminate the hassle of multiple loans and closings. Instead of securing separate financing for construction and your long-term mortgage, a construction perm loan lets you lock in a fixed rate from day one—meaning one loan, one set of closing costs, and one underwriting process.
Program Highlights
We offer construction perm loans across FHA, VA, and Conventional platforms—tailored to fit your financial situation:
- FHA Construction-to-Perm: Up to 96.5% financing
- VA Construction-to-Perm: Up to 100% financing for qualified veterans
- Conventional Construction-to-Perm: Up to 95% financing (97% for first-time homebuyers)
- Eligible property types: Single-family homes, modular homes, and manufactured homes
- Interest-only payments during construction
- Fixed-rate mortgage locks in after construction ends
Designing Your Dream Home: What to Consider
When building your new home, choosing the right builder is just as important as choosing the right loan. Here are some key tips:
The Right Builder
- Ask for referrals and visit current build sites
- Review the quality of workmanship and materials
- Inquire about builder warranties
- Check their reputation with local organizations like the Home Builders Association or Better Business Bureau
Set a Realistic Budget
- Talk to your North Star Mortgage loan expert to determine what you can comfortably afford
- Work with your builder and designer to keep plans aligned with your financial limits
- Avoid costly last-minute upgrades that could derail your budget
Why Choose a Construction Perm Loan?
Traditional construction loans require two closings—one for the construction phase, and another for the permanent mortgage. That means double the paperwork, double the costs, and multiple qualification processes.
With a construction perm loan from North Star Mortgage:
- You only qualify once
- You only close once
- You save time, money, and stress
- Your interest rate is fixed for the long term
Let’s Build It Together
Whether you’re starting with an empty lot or a set of blueprints, our experienced team is here to guide you through every step. With decades of experience and a reputation built on integrity and service, North Star Mortgage makes building your dream home a reality—with one loan and one closing.
Call or Text: 904-613-7700
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