One-Time close Construction Mortgage allows a borrower to purchase or Refinance a lot and the costs of building a new home. These loans are underwritten once prior to closing and then modified upon completion to permanent phase. One-Time close construction loans are offered with FHA, Conventional and VA loans. These loans only have one closing that makes the fees and process much easier and affordable.
Advantages of One-Time Close Construction Loans
Who Can Benefit?
Clients are looking to do their consturction loans and save money during the process.
Taking an advantage of VA and FHA products with lower or no down-payment.
Finding the desired land or lot and building your dream home in your desired location.