Florida Construction To Permanent Mortgage

A Florida construction to permanent mortgage provides financing to clients who wish to build their own house. This type of mortgage combines the actual construction loan and the permanent mortgage into a single mortgage, saving the client costs that would usually be incurred by two separate loans. Florida Mortgage Specialists provide financing solutions for new construction, purchase renovations, or for the renovation of an existing home. Our loan can also cover the cost of land acquisition.

In addition to the typical mortgage documents required for a Florida construction to permanent mortgage application, we will ask you to supply information on the builder, including trade references, workers’ compensation and general liability coverage, the builder's license (if applicable), a copy of the construction agreement between the builder and the borrower, and a copy of the construction draw schedule.

Generally, disbursements are made within 3 to 5 business days pending inspector availability and receipt of all required documents. An estimated fee will be collected at settlement to pay for these inspections and title updates for the draw requests to be made during the construction process.