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One Time Close Construction Loans
                                                                                                     

One time close construction loans are my specialty. One time close construction loans allow you to purchase the lot, fund the construction of your home using a one time close construction loans product combined with your permanent loan and close only once, saving substantial money in closing costs.

I am a mortgage broker specializing in one time close construction loans and represent 24 of the largest construction loans lenders. As a one time close construction loans broker, I work for my client and not the construction loans lender, taking time to understand your situation and placing your one time close construction loans with the lender who matches your needs. I give you unbiased advice and support throughout the process. One time close construction loans are a specialized product and most brokers do not have the experience to guide you through this complex process. This is basic construction loans information but please call to discuss your individual project. At a fundamental level, one time close construction loans offer two types of product characterized by how they base interest rates during the construction phase. I refer to these approaches as One Step and Two Step. Email any questions on one time close construction loans

 This page is focused on new construction loans, if you are interested in renovating an existing home please go to my renovation loans page.

If you have owned your lot for 1 year, or if you have documented improvements to the property, we can use this equity to meet your down payment requirement or create an interest reserve account. Depending on the size of the interest reserve account, these funds will make your payments during the construction phase.

Several products include:

  • One Time Close Construction Loans Single Rate. "One Step" program protects you against increasing rates and extended lock fees. Interest only fixed rate during construction and modifies into a permanent loan after construction..

  • One Time Close Construction Loans Prime Rate Based. "Two Step" program allows you to borrow up to 95% of your total cost for a Principal Residence. Based on the Prime Rate during the construction period with interest only collected on funds disbursed. Allows a 12 month construction phase. 

  • Lot Loans. Designed for those who found the perfect lot but are not ready to build.

  • Stated Income construction loans are now available and are wonderful for the self employed or anyone with difficult to document income or asset situations.

One of my favorite lenders has reopened their lending department. You can modify into the incredibly flexible Cash Flow Loan.

I have written a newsletter covering them, and a construction FAQ is available.

I have a list of documentation needed.

There is a page detailing construction loan fees.

I have also included information on the specialized areas of log home, modular home, or timber frame home financing.

I have detailed information on extended interest rate locks with a float down option. 

I have a page on calculating mortgage ratios.

If you are not ready to build but have found the perfect lot. The new Purchase Plus Lot Loan can save you a great deal of money.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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one time close Construction Loans   Prequalify for your One Time Close Construction Loans. 

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Certified Mortgage Planning Specialist


NEVER an Origination Fee!

Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.                                                                                                                       VA Mortgage