Construction-to-permanent financing lets you build a fully custom home on your lot and roll everything into one loan at closing. One set of closing costs. One loan officer. From groundbreak to move-in — Tyler is with you the entire way.
Traditional construction financing requires two closings — one for the construction loan, one for the permanent mortgage. That means two sets of closing costs, two rounds of underwriting, and double the stress. CMG's construction-to-permanent program does it all in one shot.
Tyler reviews your income, credit, and assets. You select your lot, finalize your builder, and submit complete plans and specs. The loan is underwritten based on the finished home's appraised value.
You close the construction-to-permanent loan before the first shovel hits the ground. Your rate is locked. Your builder is approved. Funds are placed in a draw account ready for disbursement.
As your home progresses through milestones (foundation, framing, rough-in, drywall, completion), draw requests are submitted and inspected. You make interest-only payments on the disbursed amount.
When the certificate of occupancy is issued, the loan automatically converts to your permanent mortgage. No second closing, no re-underwriting. You move in and your regular payment begins.
Construction loans have more moving parts than a standard purchase — and that's exactly why you want Tyler in your corner early. Let's map out your build financing before you sign a builder contract.