New home under construction

Building his dream home was a no-burden process for Phil Sullenberger with a construction to permanent financing loan. Sullenberger, a valued customer of Peoples Federal Savings and Loan, had all positive things to say when asked about his lending experience. 

“They [Peoples Federal Savings and Loan] have a good product, they have very comparable rates in the local market and they’re extremely easy to work with,” said Sullenberger. “They’re like the old-school bankers, always going the extra mile to help. The people make the bank.” 

The Construction to Permanent Financing Difference

Selecting a construction to permanent financing loan allows you more flexibility and easier access to funds as unplanned expenses may arise during the construction process. 

“The loan allowed for a seamless transition when my home was completed,” said Sullenberger. “I was able to transition from construction right into permanent financing without any bumps in the road.” 

Benefits of the construction to permanent financing loan

  • Easy access to funds during the construction period
  • Pay interest-only during the construction phase of your loan
  • One-time closing 
  • Lower closing costs

When choosing to build a home, the typical process requires two loans: a construction loan and then a permanent financing option. The construction to permanent financing loan creates a seamless one-time, fixed-rate loan option that allows you to only take out one loan. When the construction part of the home-building process is complete, the loan is rolled into a permanent financing solution.

What will your monthly mortgage payment be? 

Why Peoples Federal Savings and Loan? 

Sullenberger first heard about the loan option through a friend/ After meeting with a loan officer, it was easy for him to decide Peoples Federal Savings and Loan was the bank for him. 

“Recently, I have been working with loan officer Josh Buehler. He has been great – always extremely professional and helpful,” said Sullenberger. “Anytime I call the office, the tellers are very polite and maintain great service.” 

Our lending officers at Peoples Federal Savings and Loan proudly provide 1-to-1 consultations to our customers, creating a collaborative effort to determine the best available options fit for your needs. 

Unlike the big-box banks that are limited with their lending options, we have the flexibility to work with non-routine scenarios, which creates a better solution for the customer in the end. 

“I had a unique situation with my loan, but that didn’t stop Josh,” he said. “I wanted to sell some of my land while my home was being built and be able to apply that income from the sale toward my loan. Josh made the process simple and I was able to do just that.” 

Meet one of our loan officers: Joel Schneider

Learn More About Construction to Permanent Financing

When you’re considering building a home, there are many questions to answer, from who to choose as a lender down to the color of your front door. Peoples Federal Savings and Loan is here to support you every step of the way. 

Man and Woman Financing Home Improvements