One-Time Close New Construction Loans

One-Time Close New Construction Loans

One-Time Close New Construction loans give our clients a unique opportunity to  build dream home with less hassle and more savings. And the best part? One closing! Which means one interest rate (with the option to modify down if the market improves), one down payment, one full credit report to order and one approval. Available on conventional loans, including ARMs and high balance, and VA loans.

Where  Borrowers Benefit

  • Save time and money. One closing means only having to cover one set of closing costs.
  • No settling. With new construction, your borrowers really can have the home of their dreams.
  • Low down payment. Down payments as low as 5% down for conventional and 0% down for VA make new construction loans accessible for more borrowers.
  • One approval. No need for a second approval.
  • Modify down option. Once the loan is complete, borrowers can modify down to secure a lower interest rate if the market changes or stay locked in no matter how the market moves.
  • Build-period payments. Conventional borrowers can enjoy lower, interest-only payments while VA borrowers have no payments during the build period.
  • Less out-of-pocket expense. The borrower doesn’t have to pay for the build and then get a mortgage. The mortgage pays for the build!

Better For Builders And Contractors

  • Levels the playing field. Gives general contractors more freedom to build unique dream homes for their clients, rather than cookie-cutter developments.
  • Get paid faster. Once the loan is closed, the cash is ready for labor and materials. It also saves the expense of having to pay for the build up front and then find a buyer.

One-Time Close New Construction loans provide a faster, easier way to help borrowers get into the dream home they want!

Give us a call at 786 622-2248 to start your application or start the application here!