Make Your Home Your Dream Home with a One-Time Close Loan!

We have put together a guide to help you determine if a One-Time Close loan is right for you. Click the link below to download our free guide.

Is the One-time Close Construction Loan Right For You?

The  One-Time Close construction loan does NOT require the borrower to qualify twice. For other types of construction loans the borrower applies once to pay for the construction, then applies again for the mortgage itself. Construction-to-permanent loans avoid all that by using a single loan, one closing date, and specific steps and requirements for how the loan is to proceed into construction phase and what happens once the work is completed.
With The One-time Close Construction Loan You Can:
  • Get the financing of a new construction, single family residence on a new lot (purchase) or an existing lot already owned by the customer (refinance).
  • Allows for a single closing of the construction loan, which will be converted to a permanent loan at the completion of the construction project.

Before

What are the Benefits of the One-time Close Loan?

Some of the Benefits are:

  • You save money
  • Reduced interest rate risk
  • No payments during construction
  • A dedicated project management team/vendor
  • No re-qualification

After

 

 

What make up the construction loan costs?

  • Land Value
  • Soft Costs – Permit,engineering and architectural fees
  • Hard Costs – Materials and labor costs
  • Contingency Reserve
  • Lot Equity

Don’t know if the One-time Close Loan is right for you?