Residential Construction Loan

Let People's Choice Mortgage, VA unlock the door to your new home with a Residential Construction Loan. People's Choice Mortgage, VA offers Construction-to-Permanent, Lot Loans and Remodeling. Our Construction-to-Permanent is a first mortgage to construct or rehabilitate a primary residence or second home. You only close one time as the loan converts to a permanent fixed rate or adjustable rate loan - your choice - at completion. During the construction phase you only make interest payments. Let us help you build it!

Construction-to-permanent loans up to $3 million
Down payments as low as 10%
Both fixed rate and adjustable rate loans available
Construction period can vary from 6 to 12 months
PCM Home Office manages disbursements to your contractor for you
Loans to remodel or purchase a lot available

The Loan Process ? - No Problem!
Our construction loan works very similar to a standard purchase or refinance loan. There are just a few extra steps required to assist the appraiser in determining the value of your yet-to-be-constructed home. Further, we evaluate the contractor to determine if he or she has the experience and expertise to complete the proposed construction.