The Mortgage Calculator introduces One-Time Close Construction Mortgages, allowing borrowers to finance both construction and permanent financing with a single loan. A construction mortgage calculator is available to help homebuyers estimate their costs and monthly payments.
MIAMI, Feb. 4, 2025 /PRNewswire-PRWeb/ -- The Mortgage Calculator, a licensed lender (NMLS #2377459), is streamlining the homebuilding process with its One-Time Close Construction Mortgage program. This loan option allows homebuyers and builders to finance the construction, lot purchase, and permanent mortgage in a single closing, eliminating the need for multiple loans and reducing closing costs.
Designed for borrowers looking to build custom homes, the One-Time Close Construction Mortgage simplifies financing by combining construction and long-term financing into one convenient loan package. This program is available for Conventional, FHA, VA, and USDA loans, providing flexible solutions for various borrower needs.
Key Features of One-Time Close Construction Mortgages:
- Single Loan, Single Closing:
- Combines construction, lot purchase, and permanent financing into one mortgage.
- Eliminates the need for a second closing, reducing costs and paperwork.
- Available for Multiple Loan Types:
- FHA, VA, USDA, and Conventional construction loans available.
- Low down payment options for eligible borrowers.
- Interest-Only Payments During Construction:
- Borrowers only pay interest on the amount drawn during the construction phase.
- Helps keep payments lower until the home is completed.
- Flexible Credit and Income Requirements:
- Designed for first-time homebuyers and those with non-traditional income sources.
- Alternative income verification options available for self-employed borrowers.
- Financing for Land Purchase Included:
- Borrowers can roll the cost of land acquisition into the total mortgage.
- Works for those purchasing new land or refinancing an existing lot loan.
"The One-Time Close Construction Mortgage is the perfect solution for homebuyers and builders looking for a seamless financing experience," said Nicholas Hiersche, President of The Mortgage Calculator. "By eliminating the need for multiple loans and closings, we make it easier and more affordable to build a custom home."
Who Can Benefit from a One-Time Close Construction Loan?
- First-time homebuyers looking to build a primary residence.
- Self-employed borrowers seeking flexible financing options.
- Veterans and active military members eligible for VA construction loans.
- Homebuyers in rural areas taking advantage of USDA construction loans.
- Borrowers purchasing land and rolling it into a single mortgage.
Easy Loan Estimation with the Construction Mortgage Calculator
To help borrowers estimate their potential costs, The Mortgage Calculator offers a construction mortgage calculator. This tool provides instant payment estimates based on loan amount, interest rate, and construction timeline, making it easier for homebuyers and builders to plan financing.
Seamless Financing for Custom Homebuilding
By offering One-Time Close Construction Mortgages, The Mortgage Calculator simplifies the financing process for borrowers looking to build their dream homes. The program eliminates the need for multiple loan applications and reduces financial uncertainty by securing permanent financing upfront.
For more details or to apply, visit the One-Time Close Construction Mortgages page.
About The Mortgage Calculator
The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) specializing in advanced mortgage solutions for homebuyers and real estate investors. The company offers access to thousands of loan programs, including Conventional, FHA, VA, USDA, jumbo, and Non-QM loans, through partnerships with over 100 banks and lenders. Its One-Time Close Construction Mortgage program provides a seamless solution for financing custom home construction with a single loan and closing.
Media Contact
Nicholas Hiersche, THE MORTGAGE CALCULATOR, 1 7867331993, [email protected], https://themortgagecalculator.com
SOURCE THE MORTGAGE CALCULATOR
Share this article