Construction Perm Loan

Get prequalified


Our construction to permanent (CP) loan (often referred to as a home construction loan) combines construction financing and the permanent mortgage into one loan, so you save by paying only one set of closing costs. Consider this loan a one-time close! Plus, you’ll have the peace of mind that comes from locking in your interest rate before construction begins.

If you’re unfamiliar with the CP process, check out these helpful links or contact our construction team!

Download our FREE brochure

Learn about our Construction to Permanent (CP) Loan in our free digital brochure.

Download free brochure

What does the construction to permanent loan process look like?

In the beginning, there will be two closings happening simultaneously: the closing on your land (if you don’t already own it) and the closing for the construction loan. Once the home construction is complete, we will conclude the draw process with your builder so you can move into your new home. The loan will convert to a traditional mortgage after the 12-month, interest-only period is complete, or sooner in some cases.

What happens after my loan is approved?

After your approvals, all you need to do is finalize your blueprints. The process is very hands-off for you. Your builder uses your loan to make draws, or transactions, to purchase materials in order to build your home. The bank also handles draws by working directly with your builders. During the 12-month construction period, the loan requires interest–only payments, keeping your payments low. And, you will not pay interest on any funds not drawn during the build.

Have you asked yourself these home building questions?

  • Where do you want to build your home?
  • Is your home within 50 miles of the Kansas City area?
  • Have you picked a home style or floor plan?
  • Which builder are you partnering with to build your home?
  • Are you able to pay 20% down on your loan? If not, do you have equity in your current home?

We've got your back

Our team is ready to answer questions and help you navigate the construction process so you can achieve your dream home build.


You are now leaving First Federal Bank of Kansas City

Our website/mobile terms, privacy and security policies do not extend to the website or app accessed through this link, and First Federal is not responsible for the content on any third-party website or app. Click "Yes" to leave our website.