One-Close Construction Loans have become the most popular way to finance the construction of Single-Family dwellings for Primary Residence , Second Homes, and Vacation Properties. Our customers find many advantages to these loans, including:
            One Closing: There is no second closing on completion of construction, saving the duplication of loan, title, and closing costs. 
            Modification to Permanent Loan: The construction loan automatically converts to
the permanent loan when construction is complete. In addition to cost savings, the customer benefits by not needing to re-qualify or supply additional financial information.
            Long-Term Interest Rate Lock: The interest rate on the permanent loan can be locked in at the time of closing, with a float down to market rate at completion.
            No Out-of-Pocket Costs: In many cases, the closing costs and interest during construction can be added to the loan, with no cash at closing and no payments until complete.
            Owner-Builder: Owners who wish to build the property without a general contractor can be financed depending on qualifications.
            Flexible Underwriting: Standard approval documentation provides the best options; these loans are also available on Stated Income and No Income Verification programs.

Construction Loans continue to be the primary method of financing Spec Builder and Investment Properties. These are designed to finance construction of properties designated for sale, with the construction loan to be paid off when sold. Usually, there is no rollover to a permanent loan on completion. However, we can provide the construction lender a conditional approval on the permanant future loan.
 
Mountain Mortgage Centers offer the best options for construction financing. With the most lending alternatives in the lending industry, we can cut the red tape and a lot of the costs. Contact Us to review your specifc situation.

Consult with our team to design a mortgage program to fit your requirements.