Jumbo Construction-To-Permanent (Single Close)

Buy land and build the house with as little as 5% down.
A Jumbo Construction-To-Perm (C2P) loan is specifically used to finance the construction of the borrower’s new home and permanent mortgage all into one single transaction with one closing.
  • 95% LTV – Up to $850K – 720 FICO
  • 90% LTV – $850K to $1MM – 720 FICO
  • 85% LTV – $1,000,001.00 to $1.5MM – 740 FICO
  • Single Family Residence
  • Loan is made to the borrower
  • 12- month build time from date of closing and funding.
  • Borrower is billed monthly for construction interest.
  • Builder paid closing cost allowed
This is not an advertisement to extend consumer credit. All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions do apply. Goldwater Bank, N.A. NMLS# 452955.
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Jimmy Vercellino

MLO |Regional Residential Mortgage Director
First Western Trust


The draw process is easy. Blue Sky Homes will work directly with Goldwater Bank, N.A. to facilitate and complete your build. As the builder utilizes the funds- referred to as the draw process, you will make monthly payments to Goldwater Bank. Construction rates are pre-determined on credit score and down payment amounts by each borrower before the building process begins. Once the process has started the borrower will make one (1) monthly mortgage payment during construction based off builder draws.

Example Draw Process

  • 1st Draw: $250,000 at 4.25% = total payment of $885.42 due 06/01/2020
  • 2nd Draw: $250,000 at 4.25% = total payment of $1,770.83 due ~ 07/01/2020 after framing is completed
  • 3rd Draw: $250,000 at 4.25% = total payment of $2,656.25 due ~ 08/01/2020 after drywall is completed
  • 4th Draw: $250,000 at 4.25% = total payment of $3,541.67 due ~ 09/01/2020 after finishes are completed

Cash Extra Change Orders Due pre-move-in
** Draw payments in addition to beginning loan balance TBD based off of purchase price and down payment.


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