One-Time Close Construction Loans
If you decided the only home worthy of your welcome mat is one you build yourself, ViewPoint Mortgage is ready to assist you in financing your dream home!
One loan. One close. (How simple is that?)
Since there are many steps to building a home, we thought we could at least make financing simpler. That's where our innovative One-Time Close Loan comes in. That's one close for both the construction financing and the mortgage once your new home is move-in ready. Oh, and the land purchase can be included in the loan.
ViewPoint Mortgage One-Time Close Loans are available for:
New Construction: Intended for buyers planning to build their primary or second home. The lot purchase may be included in the loan.
Rehab/Major Rehab: For major renovations on an existing primary or second home.
Pre-Sold Existing Inventory: For the purchase of a speculative home that's less than 50% complete.
What's In It For You (Besides the incredible convenience.)
- Financing up to 90% is available on conforming loans.
- Land, soft costs and commissions can be paid at closing.
- Up to 10% advance on costs for permits, plans, etc., may be paid at closing.
- Once the home is complete, the construction loan converts into a permanent loan.
Why Your Builder Will Love You (And you'll love your builder.)
Because your builder is paid quickly at each stage of construction, delays due to money issues shouldn’t be a problem. (Which means you may be moving into your new home much faster.)
Single Rate Program (Conforming/Non-Conforming Loan)
- You close on the interim and the permanent loan at ViewPoint Bank’s portfolio rates, paying interest only.
- With the Single Rate option, you lock in a rate for the interim period and an ARM (Adjustable Rate
Mortgage) product for both the construction and permanent loan. - Announcing…90% Financing Available for One-Time Close Jumbo Loans up to $625,500!*
Click here to contact a ViewPoint Mortgage Professional today for more details.
*Borrower must obtain Mortgage Insurance
