Our One-Time Close New Construction loans provide a unique opportunity. 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. One-time Close New Construction loans are available for VA & Conventional buyers, including Fixed Rates, ARMs, and high balance options, and deliver the faster, easier process we are known for.
BETTER FOR BORROWERS
Save time and money. One closing means only having to cover one set of closing costs.
No settling. With new construction, borrowers really can have the home of their dreams.
Only 5% down. A low down payment makes new construction loans accessible for more borrowers.
One approval. No need for a second approval.
Float down option. Once the loan is complete, borrowers can float down to secure a lower interest rate if the market changes or stay locked in no matter how the market moves.
Initial interest-only payments. During the build period, the borrower can enjoy a lower, interest-only payment.
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 REALTORS
More efficient. My Lender facilitates communication with the builder and provides me with checklists for the project approval and builder approval to help keep the approval process moving.
I can pre-approve your buyers, provide valid pricing, and clear conditions – all before submitting the loan into underwriting.
No second approval needed. After the first approval, the borrower is good to go, helping to deliver a more seamless, efficient experience.
Get more certainty. With no second closing, the loan is locked even if the market shifts. Your Buyers also have the option to modify down if the market improves.
Once the loan is closed, my Lender will handle the rest of the process. They’ll be in direct communication with the builder on subsequent draws, as well as subsequent inspections to confirm the project is on pace.
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 to be used 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, while growing your business with new opportunities for referrals.
Call me and start taking advantage of our One-Time Close New Construction loans today!
