Why You Should Consider A One-Time Close Construction Loans
The most important part of building a new home is a loan that finances the construction; and getting this loan can be complicated. At American Property Financial we have the experience needed, and a program, to make this process easier.
American Property Financial offers our FHA and VA borrowers a One-Time Close Construction Loan. This is a great program because it allows you to build your new home on land that you currently own or on land that you find and want to buy and build on. Our One-Time Close program that allows you to take care of the mortgage loan process and the construction loan process all at one time. With only one lender to deal with, you are working with someone who’s interest in you and helping to close your mortgage loan and the construction loan are the same.
Advantages of our One-Time Close Construction Loan are:
- Low FHA/VA fixed interest rates.
- The rate is locked in prior to closing (and construction) for the life of the loan.
- No mortgage payments for the borrower to make throughout the construction period.
- No construction interest payments for the builder to make throughout the construction period.
- The loan is 100% in place PRIOR TO CONSTRUCTION!
You don’t need to worry about interest rates moving away from you while the house is being built or having to be re-approved for the mortgage loan at the time of the home’s completion.
Another great feature of this program is that it can be used for traditional site built housing and manufactured homes.
If you know what you want to move into a new home, we can show you how and help you get there. Call us and let us help you start this process.