Construction or Lot Loan

Construction Permanent Loans

A construction permanent loan is a mortgage that funds the construction of a new home. The loan is closed for the total loan amount, and the funds are withdrawn over time based on how much of the home is completed.

Loan features:

• Available for the construction of your primary residence
• Fixed rate and ARM* loans
• Conforming and Jumbo loan amounts available
• One-time closing, with only one set of closing costs
• Interest-only payments during construction*

Consider a construction permanent loan if:

• You are planning to build a new home

Lot Loans

If you've found the perfect lot to build your dream home, but are not quite ready to break ground, a lot loan is your source of funds. The maximum loan amount is $300,000, and you can apply for lots up to ten acres if the property is in a developed, plotted subdivision. Variable term ARM loans are also available.

If you would like additional information or wish to apply for a construction or lot loan, please contact a Fifth Third Mortgage Loan Specialist. Call toll free at 1-866-351-5353, visit a Fifth Third Banking Center near you, or fill out a secure online application.