Consumer Advantages

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.

 
 

NMLS #93243


Weststar Mortgage 600 Byron Nelson Road, Ste 500 Roanoke, TX 76262
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