Construction-to-Permanent Home Loans

We've constructed the perfect loan for you.

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One loan. One rate. One closing.

Thinking of building your dream home? We’ve constructed the perfect loan for you. From groundbreaking to final closing, you can enjoy one loan throughout the entire construction process with a single-loan close.

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Our construction-to-permanent home loans allow you to lock in your rate before construction even begins so you can enjoy peace of mind even as rates rise.

Other benefits include:

  • Up to 90% financing available

  • Loan amounts up to $3 million

  • Flexible construction loan terms

  • Free rate float-down on conversion to permanent financing

  • Various fixed rate and ARM options

  • Interest-only payments during the construction phase

Make Your Dream Home a Reality

We’re here to help you every step of the way.

1

Gather Your Information

Find out which documents and information you’ll need to apply for a mortgage.

Mortgage Application Checklist
2

Start Your Application

Apply online, give us a call at 904-908-2535 or visit us in person at one of our many local branches.

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3

Lock in Your Rate

Once you qualify for a mortgage, we’ll guarantee your rate. This protects you if interest rates fluctuate during the application process.

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Calculate Your Loan Payment

Construction-to-Permanent Home Loan FAQs

How is a Construction to Permanent loan different than a conventional mortgage loan?

Unlike conventional loans, construction funds are not provided in a single lump sum. Instead, we'll make payments to fund the construction project through a series of draws, often referred to as disbursements, as work is completed on the property. As an added benefit, you will only be required to pay interest on the loan funds disbursed while your home is under construction!

Who selects my builder?

Selecting your builder is an important decision made by you and approved by us.

When can my builder start construction?

Construction can begin once permits are approved, and the loan has closed.

What is a “draw” and how is the amount determined?

A draw is a disbursement of funds from your loan for costs associated with building your new home. The draw amount is based on the Draw Schedule agreed upon by all parties before your loan closes. At VyStar. we offer both a Standard and Custom Draw Schedule to fit any project.

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Mortgage Application Checklist

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Homebuyer’s Guide

Buying a home and getting a mortgage can be a confusing and intimidating process — let us walk you through it.

Certain restrictions and limitations apply. All loans are subject to credit approval. The VyStar Credit Union construction-to-permanent loan program is available in select states only. Rates are subject to an increased rate, if original construction term is not met. Contact a loan officer for availability in your area. ©2022 VyStar Credit Union.

Please note: The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.