One time close loans in construction is an easy way of owning a home in Florida. It simplifies multiple and complicated processes by allowing the borrower to combine their financing needs into one – from buying the lot to construction and permanent mortgage – one-time close construction loan rates that are competitive can be availed even in these challenging times.
Benefits of one-time close loans
Single close Construction to permanent loan
in Florida is an efficient way of building your home by just talking to one loan officer from beginning to end. One benefit is the easy process for first time home buyers or even if you are thinking of taking out a real estate investment. You don’t have to worry about the tedious requirements of jumping from one loan originator to another and taking out multiple loans.
Sometimes, one-time close construction loan rates are better as compared to taking out multiple loans from different lenders - lesser fees, less complication, and less paperwork. A lot of the home loans have varying interest rates and over time, you may be surprised at higher rates along the road. With a one-time close loan, you have a fixed rate so you know what you are actually signing up for.
Imagine taking out three different loans for your lot purchase then another for your home construction and then take out another mortgage then suddenly a pandemic like COVID-19 happens and you lose your job. You could end up losing everything, your home, and the land where you built it as well. When you apply for a one-time close loans you lessen the rick and it is for the long haul. No matter what will happen to your financial situation years from closing the deal, your chances of keeping your home will be big. We would love to explain our one-time close loans in detail
so let us know how we can help you.