Fidelity Mutual Mortgage is pleased to offer some of the best construction Loans to permanent Construction loan programs in the Country.

Fidelity Mutual Mortgage have spent years establishing our investor relationships so that we can offer the most innovative and flexible home construction loan products on the market.

How does a “one time close” construction to permanent loan sound?

How about a fixed rate, new construction loan with a free float down option?

Sound good? We think so too. Whether you are looking to construct your primary residence, a second home or an investment property, we are ready to help you build the home of your dreams.

Things you should know before getting a Construction Loan:

First of all you should know that- “Always in Construction loans the lender has to know the story behind the planned construction before they're willing to loan you money”, Basically the Lender want to know the details of what you’re going to do and how much it’s going to cost you.

A Construction Loan is not standardized like mortgage loans underwritten to Freddie Mac or Fannie Mae guidelines.

Construction loans typically require interest-only payments during the construction and become due upon completion. Completion for homeowners means that the house has its certificate of occupancy.

Construction loans are usually variable-rate loans priced at a spread to the prime rate or some other short-term interest rate. You, the contractor and the lender establish a draw schedule based on stages of construction, and interest is charged on the amount of money disbursed to date.
A very important issue is the project cost the lender is willing to lend. If you already own the land, then that can be considered as equity on the construction loan, if you don’t so it will be a completely different scenario for the lenders.