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Construction Loans

Have you found the perfect floor plan for a custom-built home? Our construction loan programs offer solutions to make your vision a reality.

While your home is under construction, we monitor the progress and provide the funds to your builder. With a system of reliable and consistent disbursements in place, you’re more likely to see steady and efficient building progress. Once your home is complete, you’re able to convert the loan to a permanent mortgage with competitive rates and no origination fee.1

We offer two construction loan programs to meet your needs.

One-Time Close Construction Loan

  • Up to 80% financing available
  • A single closing to save you time and money
  • Lock in your permanent mortgage rate during the construction phase
  • No origination fee on your permanent mortgage
  • Interest only payments during the construction phase
  • Flexible terms
  • No charge for periodic inspections2
  • Special rate discount to customers with automatic payments from a Fidelity Bank account

Two-Time Close Construction Loan

  • Up to 90% financing available
  • Competitive rates with fixed and adjustable options
  • No origination fee on your permanent mortgage
  • Interest only payments during the construction phase
  • Flexible terms
  • Extended rate-lock options
  • No charge for periodic inspections2

Ready to get started?

Talk to us about the construction process. Your future home awaits.

 

1 An origination fee will apply for the construction loan. 2 No charge for periodic inspections within 40-miles of a Fidelity Bank branch. An inspection fee of approximately $75 will apply for homes more than 40-miles away from a Fidelity Bank branch.

The above information for the one-time close construction and permanent loan assumes a sales price/construction cost of $600,000 at 80% LTV with a minimum of a 720 credit score on a 7/1 adjustable rate loan. The APR is 5.34% as of 6/8/22. The above information for the two-time close construction and permanent loan assumes a sales price/construction cost of $500,000 at 90% LTV with a minimum of a 720 credit score on a 30 year fixed conventional loan. The APR is 5.978% as of 6/8/22. These are examples only and not a commitment on rate or loan approval. Credit approval required. Programs are available to qualified borrowers only. Programs are subject to change without notice. Some restrictions apply.

 

Mortgage Calculator

Estimated Monthly Payments
$1,342
30 Year Fixed / 4.25% Interest
Principal & Interest: $1,206
Homeowners Insurance: $93
Property Taxes: $274