New Construction Commitment (Permanent Financing) Program with 9 Month Rate Lock
Get peace of mind with loan approval and an interest rate locked for 9 months before you begin construction. Our commitment program locks in your mortgage rate for your permanent financing after the completion of your home, beyond the normal 60 days, protecting against interest rate changes.1
A 1% commitment fee (which replaces the origination fee usually paid at closing) allows the customer to lock our current basic rate in for 9 months for the term chosen.
A ½% commitment fee (which replaces the origination fee usually paid at closing) allows the customer to lock the rate in for 9 months at a ½% higher than the basic rate for the term chosen.
The commitment is available for 30-, 20-, 15- or 10-year home loans. Areas of Service »
WHY CHOOSE PIEDMONT FEDERAL FOR YOUR MORTGAGE?
We don’t sell our loans, which means your mortgage won’t bounce around between banks all over the country and you’ll always know who to talk to with questions. We keep your mortgage close to home where it’s not only secure, but stays here in the community. More reasons »
1 This program applies to the permanent financing after the completion of the home. Piedmont Federal does not provide financing for the construction of the home.