If you have served or are currently in the U.S. military, you may be eligible for the U.S. Department of Veterans Affairs Home Loan (VA Loan). This loan often requires no down payment and has lower closing costs.
One-time close new construction loans combine the financing for construction and the permanent mortgage into a single loan. It simplifies the process, offers fixed interest rates, and eliminates the need for multiple closings. Borrowers only pay interest on the construction funds used. It is offered by specialized lenders for new homes or major renovations.
A two-time close construction loan involves separate loans for the construction phase and the permanent mortgage. It requires two closing processes and offers flexibility but can be more complex and costly compared to a one-time close loan.
With our tools and knowledge, we're here to help guide you, starting with our Construction Loan Qualifier.
The Construction Loan Process
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