Close up of happy couple looking at blueprint at home

Construction to Permanent Loan

Addition Financial's one-time construction to permanent mortgage loan provides members with both interim construction financing and permanent loan financing all in one mortgage.

One loan for one home.

It's one loan for one home. Addition Financial's Construction to Permanent loan can be used to finance construction costs as well as for the mortgage once your home is move-in ready. 

Building a new home?

When it comes to building your dream home, count us in! The Construction to Permanent loan removes the complication of dealing with more than one loan type when creating and owning your home. 

What to expect after you apply:

We want you to feel prepared as you navigate this application process. Download this checklist to learn about what you'll need to have on-hand once you've hit "submit".

  • Pay interest-only during the initial 12-month construction term
  • Modify your mortgage to a 30-year fixed rate after the construction term
  • Minimum loan amount is $25,000
  • Maximum loan amount is $1,000,000
  • All builders must be approved by Addition Financial. No owner builders allowed.

Payment examples

TermRate "as low as"APR "as low as"Example loan amountExample monthly payment
10 years7.750%7.880%$300,000$3,604.14
15 years7.875%7.969%$300,000$2,849.67
20 years8.250%8.328%$300,000$2,561.37
30 years8.500%8.562%$300,000$2,312.94


Historical example as of 02/24/2023


Rates are based on credit application processes. Addition Financial construction loans are construction-to-permanent loans allowing a 12- month construction period.  Once construction is complete, final certificate of occupancy issued, (CO), the loan automatically converts from construction to permanent. In the event construction extends past the 12-month period, original rate lock will expire and relocked at current market rate.

During the construction phase, Addition Financial will conduct draws to the builder at certain phases of the project. During project phase, members are responsible for interest-only payments. Payments are based on total amount of money advanced by Addition Financial to the builder. Payments to builder are contingent upon passing required inspections. During the project phase, the interest-only payments will vary and be determined by total amount paid to the builder.  Payment examples above are provided for the permanent phase of the loan. These payments include principal and interest. At closing of loan, Addition Financial will collect to cover costs of inspections and builder disbursements. Funds remaining after CO is issued can be refunded to the member. 

Jumbo Loans available on loans greater than $726,200.

Taxes and insurance are not included.  Your actual payment at final construction will be higher. 


Building a home is stressful. Financing it doesn't have to be.

Break ground on a Construction to Permanent loan with Addition Financial and feel the confidence of simplified financing during your home-building journey.

  1. 1
    Review eligibility

    Anyone who lives, works, worships or attends school in select counties may join. View our "Become a Member" page for full eligibility.

  2. 2
    Complete loan application

    When you're ready, complete the online application or visit your branch to apply in person.

  3. 3
    Make sure you have everything you need.

    Download our "next steps" checklist and review the required materials.

Get your learn on

Think of us as your personal financial guru, partner and coach for wherever life’s journey takes you. To help you live your best life, we offer money management tools, financial literacy seminars and expert advice that’s easy to understand. Start making every moment (and every penny) count.