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Building or renovating your own house does not need to be a fantasy

With a BB&T construction-to-permanent loan, you can easily combine your great deal and construction funding in a solitary loan. When your house is complete, we are going to merely change your construction loan to a permanent home loan.

Best in the event that you

  • Desire to create your primary or vacation res need certainly to purchase the complete great deal and fund the construction
  • Would really like the possibility to prepay without penalty
  • Affordable, interest-only re re re payments during construction
  • Flexible fixed and loan that is adjustable-rate
  • No prepayment charges
  • One upfront closing with one pair of closing expenses gives the funding for the complete lot, construction and home loan

So how exactly does it work?

A construction loan is just a year—used to invest in the construction of your house, from breaking ground to relocating. Having a BB&T loan that is construction-to-permanent your construction funding merely converts to a permanent home loan as soon as your house is complete. During construction, you simply pay the attention in your loan, as well as your re re re payments could be tax-deductible. Disclosure 1 1 the info offered really should not be thought to be income tax or legal services. Please consult your taxation consultant and/or lawyer with regards to your circumstances that are individual. In accordance with one upfront closing plus one pair of closing expenses, you are going to save yourself money and time. For construction loan prices, please speak to your regional mortgage expert. More…