• Construction-Permanent Loans
• Doctor Loan Program

Construction-Permanent Loans

The Construction-Permanent Loan is designed for borrowers who choose to finance the construction of their home by a reputable builder, desire to build a major addition to their home or want to make major renovations. The loan is made directly to the borrower and not to the builder. The Construction-Permanent Loan consists of two phases, the construction phase and the permanent phase. During the construction phase, the borrower is charged interest at either the permanent note rate or a floating interest rate based on SunTrust Bank's prime lending rate plus a margin. When construction is complete, the loan is modified into a permanent loan. The Construction Permanent Loan is only offered in conjunction with permanent financing. Construction financing alone is not offered. (This loan is available only in certain markets - not nationwide.)

• Can avoid paying origination fee at closing with a higher interest rate selection.
• Only one closing saves recording and other closing costs compared to when construction and permanent loans are closed separately.
• Doesn't tie up builder's funds -- potentially reduces cost of house.
• Rate lock options include availability of float down.
• Variety of permanent loan products available.
• One closing, not two.
• Lot loan financing in conjunction with Construction-Permanent.

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Doctor Loan Program

The Doctor Loan Program is a residential mortgage loan developed specifically for Licensed Residents/Interns/Fellows and Licensed doctors who have completed their residency within the last ten (10) years.

This innovative loan program is available for both home purchases and refinances. It offers competitive pricing along with special relationship discounts. No mortgage insurance is required.

For licensed medical physicians who have completed their residency within the last 10 years:

• Up to 100%^†§ financing for loan amounts up to $650,000
• Maximum loan amount of $1.5 million

For Residents, Interns and Fellows:

• Up to 100%^†§ financing
• Maximum loan amount of $417,000

Both fixed rate and adjustable rate* loans with interest-only options** are available.

We offer rate/term and cash-out refinances up to 89.99% Loan-to-Value (LTV).

This loan is available only in AL, AK, FL, GA, MD, MS, NC, SC, TN, VA, WV and DC to Residents, Interns, Fellows, Doctors of Osteopathy (DO) or licensed medical physicians that have completed their residency within the last 10 years.

Want to learn more, or ready to apply?
Click here to find a loan officer in your area.

† Borrowers should note that 100% mortgage financing will result in no property equity until such time as the loan principal is paid down through regular mortgage payments and/or the property value appreciates. Additionally, if property values decline, you could owe more than your property's value.
§ A down payment may be required if the property is located in a declining market.
* Adjustable Rate Mortgage (ARM) products have interest rates that my increase after consummation.
** Monthly payments of interest only will not reduce the principal owed.

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