FROM PRE-APPROVAL TO LONG TERM FINANCING
Our pre-approval process is painless and simple. Once you are pre-approved for an investment construction loan through one of our underwriting direct lenders, we put you in a pool for our next community development project. We then make the process simple by usually rolling your construction loan and permanent mortgage into one easy transaction.
The construction-to-permanent loan allows you to pay zero or interest only during the construction phase, and then automatically converts to permanent financing upon completion. This means no second closing, no re-qualification, and a streamlined process to save you time and money! The One-Time Close Loan allows you to finance the lot purchase, the construction, and permanent loan into a single mortgage.
Some of our long term single close construction loans can be up to 40 years amortized, with features such as the first 10 years being interest only, and then rolling into a permanent traditional 30 year mortgage for your investment property. While the pros and cons can be weighed, when structured properly this sometimes can mean much more cash flow during those 1st ten years of your property ownership.
Occasionally depending on your credit score and profile, and how many properties you are financing at one time, we may have to utilize a construction temporary bridge loan, and then convert to a permanent long term mortgage after construction completion.
