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TD Bank Construction Permanent Loan Information
for Primary Residences & Second Homes 

Our Construction-Perm Loan is a stream-lined portfolio product that offers many features that benefit both the client and the builder. 

  • Up to 80% financing based on contract OR finished appraised value: 


If the land is part of a land-build package, then the financing is leveraged off the total contract value. However, if the client owns the land, either by loan or free-and-clear, we can use that land equity. More often than not, the client brings no money to closing. 

  • Construction-Perm loan means Consistent Rate and One Closing: 


Our Construction is a 30-year fixed rate loan that automatically converts from a 12-month or 18 month Interest Only phase to a 29 or 28.5 year repayment term. 

Many of our competitors use two-closing construction loans with floating rates, or worse; end-loans marketed as construction loans, that are constantly re-underwritten putting the builder is the risky position of having to finish the house before getting paid! Our Construction Loan provides security to our clients and builders by approving and closing the loan before the builder gets to work. 

  • A True Low Cost Construction Option: 


The fee for our product is only 1% of the loan amount, capped at $3,534. This fee includes the cost of the appraisal, follow up inspections and all construction servicing costs. 

Our construction rate is very close to our 30-year fixed rates, from which it’s based. We typically beat our competitors by .50% or more. This results in a very affordable product, allowing our mutual clients to focus on building a budget with you for their dream home. 

  • Fast, Flexible Disbursements to Client or Builder: 


Our disbursement process is easy and convenient. We can disburse directly to the client or builder via wire, mail, or bank check in the branch. From request forms sent to money in the bank, our disbursement process takes 4-5 days, so you can focus less on your upcoming material bills, and more on building to the next phase! 

Please let me know if I can be of assistance.




Donna Schermerhorn | Mortgage Loan Officer | NMLS# 546565 

TD Bank, America's Most Convenient Bank 

Mailstop: NC3-106-501 |
11325 N Community House Road, Suite 575 | Charlotte, NC 28277 

C: 704-578-1294 | F 704-919-5392 



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