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Building a new home? Orrstown Bank offers a construction loan that converts to a permanent mortgage when the home is completed.
Portfolio Construction to Permanent Home
- One closing; construction loan converts to a permanent mortgage.
- As low as 5% down payment with Private Mortgage Insurance approval.
- Construction terms: 6 months, 9 months or 12 months.
- Permanent financing: Various Fixed and Adjustable Rate Mortgages available with varying terms.
- Minimum credit score 680
- Jumbo products available. Call for details.
- Owner as contractor not allowed.
- Owner occupied or second home only.
Important Notice: Interest Rates and Maximum Loan-to-Value may be based on Credit Score, Property Type, Occupancy, Purpose, Investor, Insurer, Loan to Value and other factors. Additional investor, insurer and Orrstown Bank criteria/conditions apply to all products. Information provided is for illustrative general use only and does not contain all qualification and automated underwriting approval requirements. Orrstown Bank reserves the right to change this information at any time. Meeting any of the criteria does not constitute a commitment to lend.