• Construction-to-Permanent and Renovation Financing
• Doctor Loan Program

Construction-to-Permanent and Renovation Financing

If you're planning to build a home or make major renovations to an existing one, this financing option helps you fund the construction phase and then switch to a permanent mortgage. During the construction phase, the borrower is charged interest at either the permanent note rate or a floating interest rate based on SunTrust Bank's prime lending rate plus a margin. When construction is complete, the loan is modified into a permanent loan without requiring another closing.

• Pay interest only¹ on funds provided during the construction phase
• Choose a fixed-rate permanent mortgage or an adjustable rate² mortgage (ARM)
• Lot purchase may also be financed
• Variety of permanent loan products available
• Loan is made directly to the borrower and not to the builder
• Rate lock options include availability of float down
• Available in AL, AR, DC, DE, FL, GA, MD, MS, NC, PA, SC, TN, VA and WV

¹Monthly payments of interest only will not reduce the principal owed.
²Adjustable Rate Mortgage (ARM) products have interest rates that may increase after consummation.

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Doctor Loan Program

The Doctor Loan Program is a residential mortgage loan developed specifically for medical residents, interns, fellows, Doctors of Osteopathy (DO), and licensed medical physicians that have completed their residency within the last 10 years.

• Available for both home purchases and refinancing of an existing home
• Competitive pricing available along with special relationship discounts
• Mortgage insurance is not required
• Rate/term and cash-out refinances up to 89.99% Loan-to-Value (LTV) available
• Both fixed rate and adjustable rate¹ loans with interest-only options² are available
• Available in AL, AK, DE, FL, GA, MD, MS, NC, NJ, PA, SC, TN, VA, WV and DC; available
  in select counties in NJ and PA
• No penalty for prepaying your loan

For licensed medical physicians who have completed their residency within the last 10 years:

• Up to 100%^3,4 financing for loan amounts up to $650,000
• Maximum loan amount of $1.5 million

For Residents, Interns and Fellows:

• Up to 100%^3,4 financing
• Maximum loan amount of $417,000

¹Adjustable Rate Mortgage (ARM) products have interest rates that may increase after consummation.
²Monthly payments of interest only will not reduce the principal owed.
³Borrowers should note that 100% mortgage financing will result in no property equity until such time as the loan principal is paid down through regular mortgage payments and/or the property value appreciates. Additionally, if property values decline, you could owe more than your property's value.
⁴A down payment may be required if the property is located in a declining market.

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