Huntington’s Residential Construction Permanent Lending Program
Only One Closing
With The Huntington’s Residential Construction/Permanent Lending Program, there is only one closing for both the construction loan and the permanent mortgage financing. Saving you time and money because you’ll pay only one set of closing costs.
12 Months Interest Only
Unlike many other lenders, The Huntington gives you up to 12 full months for the construction. And you pay interest only on the portion of the money as it is used during the construction period.
Choose a Fixed Rate or Adjustable Rate Mortgage
That’s right, you can take advantage of low adjustable mortgage rates with both annual and lifetime caps. What’s more, you have the option to convert to a conventional fixed interest rate loan after construction is complete.
It’s Easy to Apply
Take advantage of The Huntington’s Residential Construction/Permanent Lending Program that offers you the time and money savings benefits of one closing and a choice of programs to fit your financial needs.
Huntington’s Construction Loan Financing Highlights:
· Low interest rates available for 1/1, or 3/1 Adjustable Rate Mortgage Loans
· 30 year fixed rates available during construction and thereafter
· Monthly interest only payments due on amount borrowed during construction
· Up to 12 months to complete construction and sale of existing residence (if applicable)
· Upon completion, loan modifies to a competitive fixed rate or remains on ARM without additional fees
· Closing costs charged only once at closing of construction loan
· Qualify with as little as 5% down on construction loan
· Qualify for construction loan without including existing mortgage payment (existing home must be sold prior to modification of construction loan to end financing)
Email Huntington
Dave Couvreur (coo-vee-air)
Mortgage Sales Representative
Huntington National Bank
1850 – 44th Street SW
Wyoming, MI 49509
Toll Free: 1-800-511-7007
Direct: 616-406-2109
Cell: 616-481-2525
Fax: 616-406-2137