Using a One-Time Close Construction Loan to Build a Luxury Custom Home
When it comes to constructing a luxury custom home, for many it’s the ultimate dream – as there’s nothing more freeing than designing your own space that reflects everything from style to comfort and practical lifestyle needs. When you buy an existing home, there’s very little to be done other than moving in, but when […]
How Inflation Impacts One-Time Close Construction Loan Rates
Creating a new home is an exciting accomplishment in life. For those home buyers, the One-Time Close Construction Loan is the perfect loan that combines a construction loan with a permanent loan making the decision to build a custom home more affordable as you are both financing your lot and your house all in one. […]
The Role of Builders and Contractors in a One-Time Close Construction Loan
When it comes to constructing your new home, one great financing solution you can use is called a OTC (one time close) construction loan program. Unlike the typical construction loan with multiple closings, an OTC loan allows both the construction and permanent financing to be closed simultaneously. This makes life easier, saves money and gives […]
One-Time Close Construction Loan vs. Renovation Loan: Key Differences
When it comes to the funding of your dream house, there are many loans you can consider. There are two popular financing options for the homeowner or home buyer and they’re the One-Time Close Construction Loan, a Renovation Loan. Although, they both let you tailor-make your house, these two systems serve very different functions. Knowing […]
How Self-Employed Borrowers Can Qualify for a One-Time Close Construction Loan
Because for a lot of entrepreneurs, they also aspire to build the dream homes. But obtaining a mortgage or construction loan can be more difficult when you’re self-employed. The good news is that thanks to some preparation, documentation gathering, and the right lender, self-employed borrowers can still get a One-Time Close Construction Loan (OTC loan) […]
What Documents Do You Need for a One-Time Close Construction Loan Application?
Constructing your own home is quite possibly the most exciting journey one can have, and borrowers seeking to build their dream home frequently finance the creation of that home with a One-Time Close Construction to Permanent Loan. This saves on two closings, means fewer fees and streamlines the process. But it is a mortgage, so […]
The Impact of Rising Land Prices on One-Time Close Construction Loan Borrowers
For many families, the dream of constructing a custom home is often just that a dream but not anymore! With Home Start’s One-Time Close Construction Loan1 you can now build your dream home and finance it all at once. Combining the construction loan with the permanent home loan means no more two close dates, higher […]
One-Time Close Construction Loans for Multi-Generational Homes
More and more in today are housing market; families are opting to give cohabiting a go. Increasing home prices, cultural norms and needs to support aging parents or save money for young adults have all led to an increase in these multi-generational homes. Studies show that nearly one in five Americans now resides in multi-generational […]
Technology in Home Building: Smart Homes with One-Time Close Construction Loans
The way we construct and inhabit houses has transformed profoundly over the last decade. The modern world of technology is revolutionizing the process of building a home, which means that homes are smarter, more efficient and comfortable. At the same time, financing options such as One-Time Close Construction Loans are helping homeowners realize their vision […]
How Weather Delays Affect One-Time Close Construction Loan Projects
Building a home is an adventure and like every other grand adventure its complexity gets the best out of us. When you’re financing your dream home with a One-Time Close (OTC) construction loan, homeowners and builders need to prepare for unexpected bumps in the road. “One of the biggest and most underestimated factors that move […]