█ One Closing, One Set of Closing Costs
Northpointe’s convenient construction-to-permanent loan combines the best features of a construction loan and permanent loan. There is one closing, one set of closing costs and the interest rate terms are confirmed prior to closing. You avoid extra fees and more paperwork!
█ Interest Only During Construction
Only pay interest while your home is being built, and only pay on the draws that have been taken. No taxes, insurance, principal, or private mortgage insurance (PMI) during the construction phase, helping keep your cash flow healthy.
█ Easy Draw Process
Northpointe’s construction lending department is on top of it! Along with personalized service from your local loan officer, they will assign you a construction account specialist that oversees the draw process and coordinates construction milestones with you and your builder.
█ Use the Equity in Your Land
Already have land to build on? Roll the land’s value into your loan – it can often cover your entire down payment! Need to purchase a lot to build on? You can also combine your construction loan with a vacant land loan from Northpointe.