Everyone Wins with One Closing, One Set of Paperwork, One Set of Fees

Builder

• Expand your potential and free up your credit line for other projects - Loans are made directly to the homebuyer so you will have the flexibility and the capital to start new projects.
• Qualify, Close then Complete - As lending guidelines continue to tighten, the risk of losing would-be buyers represents tremendous risks for builders today. With the Close It, Build It™ Loan, we qualify your buyers, close them, and then complete construction.
• Buyer fallout becomes ancient history - That's right, just like Eight Tracks, Atari and Record Albums, worry over buyer fallout will become a thing of the past! The homebuyer owns the loan from the time they close - before you start construction. Once construction is complete, the loan will then roll into permanent financing.
• Simplified Draw Process –When you submit for your draw, we will turn it around quickly.
• Cash Flow – In addition to receiving draws throughout the construction process, there is no interest payments during construction due from builder.

Buyer

• Low Down Payment Requirements - Typically, the buyer can get a loan with as little as 3.5% down payment. In some cases, if the buyer already owns the land, they get a loan with no money out-of-pocket by using the land as equity.
• Reduces Costs and Frustrations - Saves on closing costs and hassles by combining the lot loan, interim construction financing, and permanent mortgage loan into one convenient, cost saving package.
• Deferred Payment - Unlike a two-time close, no payments will be made during the construction process. Payment begins after completion when the buyer is already enjoying their new home.
• The Power of One - Buyers don't have deal with multiple lenders. They will have a dedicated one-time close specialist that is with them through the entire process.
• Rate Protection - With one-close, the rate is protected at the time of closing. This means that buyers will know what to expect from their monthly mortgage payment. Rates are floating rates with a 1% maximum above the quoted rate. If the rates go down, the buyer’s payments will go down too.