How to Build a Custom Home with a One-Time Close Construction Loan
The design and construction of your own custom home is a fantasy for many families. Unlike the purchase of an existing house, when you build a custom home, you get to make all design decisions, from the floor plan layout to the finishes to the location. But the home build financing process can seem confusing. […]
Pros and Cons of One-Time Close Construction Loans
It is new home can be one of the most exciting occasions in life. But financing can be tricky, especially if you’re accustomed the combined construction loan/mortgage process. That’s where a One-Time Close (OTC) Construction Loan comes in. Also referred to as a construction-to-permanent loan, borrowers have the ability to seamlessly convert one loan into […]
VA One-Time Close Construction Loan: A Complete Guide for Veterans
For so many veterans and service members, home ownership represents the cornerstone of what it means to have a home, beyond just a place to live, but a place to serve, as well as a place to raise a family,” Hastings said. Although traditional VA loans make buying an existing home more accessible for veterans, […]
Step by step process of getting a one time close construction loan
Constructing your dream home is an experience that is unparalleled! Unlike existing home purchases, building and constructing your own home enables you to personalize every aspect of your new design from floor plans to design and features/finishes. But the finances to build can be complicated, especially if you have several loans and lenders. That’s where […]
Benefits of Choosing a One-Time Close Construction Loan vs. Two-Time Close Loans
Building your dream home is a fun and enjoyable experience, but when it comes to financing, many people are lost on the type of loan they need. Borrowers have two main choices when it comes to construction financing: a one-time close construction loan, or a two-time close loan. Each offers a way to construct a […]