Single Close Loan for New Construction
Building a new home should feel exciting, not overwhelming. With our Single Close C2P loan, we simplify the financing process for both homebuyers and builders. This innovative loan merges construction and permanent financing into one seamless transaction, providing qualifying borrowers and builders with fantastic advantages.
Why Choose Our Single Close Loan*?
One-Time Closing: Say goodbye to the stress of juggling multiple loans. You only go through the approval process once, which means less hassle for you.
Locked-In Interest Rate: Lock in your interest rate before construction starts, so you don’t have to worry about rising rates. And if rates drop, you can take advantage of that too!
Cost Savings: Consolidate your closing costs into one transaction. No more paying for two sets of closing costs—which can save money while building your new home!
Eligibility Guidelines*:
Eligible Borrowers: U.S. citizens, permanent residents, and non-permanent residents
Eligible Properties: Single family primary and secondary residences
LTV/CLTV: Up to 90%, depending on property type and loan terms
Minimum FICO: 700 or higher
Maximum DTI: Per Automated Underwriting System or 50%, whichever is less
Eligible Programs: Conventional 30 yr fixed rate, interest-only during construction, inclusive of High Balance
*Qualification is required. Additional restrictions apply. 1-unit primary residences and secondary residences only. Conventional 30 year fixed rate, interest-only during construction, and inclusive of High Balance loan programs eligible. Limited to properties in select states. Program, rate, terms and conditions are subject to change without notice. Reach out to a loan officer for more information.
