Income and other participation guidelines vary by program and the area where you reside. When you choose MNC Mortgage as your lender, your loan officer will evaluate whether one of these programs may be available and advantageous to you. Unlike many other mortgage companies, we conduct a single settlement which takes place prior to commencement of construction. When the house is completed and an occupancy permit issued, the construction loan is conveniently converted to a permanent mortgage. Low interest rate during construction.
Interest paid during construction is only on that amount of money which has been drawn.
Flexible draw schedules. Draw inspections made and funds made available within 48 hours of request. Checks are hand delivered by an MNC Mortgage representative upon verbal verification by our inspector. Our Commitment to you When it comes to home financing, our customers rely on the integrity, strength and commitment of MNC Mortgage. Founded in 1979, MNC Mortgage is a division of FT Mortgage Companies, a subsidiary of First Tennessee Bank, which was founded in 1864.