Home Construction Loans

Disclosures

*Eligibility requires you to fund your monthly payments with an Atlantic Union Bank deposit account.

A licensed contractor is required to build your home. When applicable, property and flood insurance are required prior to the start of construction. This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approvals. Terms, rates, data, programs, information and conditions are subject to change without notice. Not all loans or products are available in all states. Specific program restrictions may apply, so please consult your dedicated Mortgage Loan Officer for complete details.

Payment example: with a $500,000 loan amount, a loan balance of $250,000 with 80% financing on a One-Time Construction Close Loan at 6.50%, the interest only monthly payment would be $1,354.17 for 12 months. The Annual Percentage Rate (APR) would be 6.568%. This type of construction loan transaction will convert to permanent financing at the end of the 12-month interest only phase. As an example: with a $500,000 loan amount, 80% financing, 30-year fixed-rate and an interest rate of 6.5%, your monthly payment would be $3,160.34. The APR would be 6.568%. These examples do not include an escrow account for taxes and hazard insurance. Actual payment obligation will be greater if an escrow account is established.

Payment example: with a $500,000 loan amount, a loan balance of $250,000 with 80% financing and a 30-year fixed-rate on a Two-Time Construction Close Loan at 6.50%, the interest only monthly payment would be $1,354.17. The Annual Percentage Rate (APR) would be 6.568%. This example does not include an escrow account for taxes and hazard insurance. Actual payment obligation will be greater if an escrow account is established.