Want to build the house you have always dreamed of? YOU CAN DO THAT with our one-time closing, construction-to-permanent mortgage loan. This loan provides funds for the acquisition or refinancing of an unimproved residential lot and the construction of a residential, one-family, owner occupied dwelling. During the construction period, you pay only interest and escrow (if applicable) payments. After your home is completed and all construction funds are disbursed, the loan converts to a permanent loan with regularly scheduled payments of principal, interest and escrow (if applicable).