What is the Single Loan Close Construction Program?
The Federal Savings Bank Single Loan Close Construction program helps streamline the process of building your home and securing permanent financing. A single loan covers your construction costs and mortgage. One loan. One closing. One easy process.
What are the Benefits of This Loan Program?
- Finance up to 95% of your mortgage on a primary residence (translation: only a 10% down payment is required!)
- 4Hassle-free draw process for builders
- Interest-only payments on outstanding loan balance during construction
- Adjustable-rate mortgage (ARM) and fixed-rate options for permanent financing which begins after construction is completed
- After construction is completed principal & interest (P&I) payments begin
Learn More About the Application Process for This Loan Program
Contact The Federal Savings Bank today and a home loan professional will walk you through the program application process, and answer any questions you might have.Get Started!