Expert source for FHA/VA One-Time Close Construction to Permanent Lending.
I am an experienced FHA/ VA home loan mortgage banker with over three decades of expertise. I've managed more than a dozen consumer websites, including VALoans.com which was acquired in late 2014 by an industry leader. Served as Chairman of the Board for a Federally Insured Bank for 11.5 years through May 2018.
We educate potential homeowners with timely articles and informative content pertaining to FHA/VA One-Time Close home loans. When they're ready to proceed with a licensed lender in their area, we guide them through our online process and connect them with our industry partners.
If you've decided to have your new home built from scratch, you might be wondering how to finance the construction and purchase. This Single Close Loan gets you from construction to occupancy with one mortgage in a streamlined process. The One-Time Close Loan is a mortgage program that finances the lot purchase (if necessary), the construction and permanent loan of a new home, all wrapped up in a single mortgage with a single closing. That's why it's called a One-Time Close. If you've decided to have your new home built from scratch, you might be wondering how to finance the construction and purchase. Previously, your only option would have been to secure a construction loan and then applying again for a permanent mortgage. You would have two closings, which means paying two sets of closing costs and having to re-qualify for the second loan once construction is complete. The One-Time Close Loan, also known as a Single Close Loan, combines this process with a construction-to-permanent mortgage. You need only qualify once and pay a single set of closing costs. Your fixed-interest rate is locked in and the entire loan is in place before construction on your new home begins. Payment is only due after construction is complete when the loan automatically converts to a permanent mortgage.
Nationwide VA & FHA One Time Construction to Permanent Home Loan Expert with complete understanding of each local jurisdiction. Main goals are to assist in educating customers with their home purchase as well as being Professionals to the Real Estate community.
* Recognized blog writer for www.fhanewsblog.com
* FHA Video Content Licensing Platform for Lenders - https://vimeo.com/channels/fhaloan/videos
* Accredited VA Automatic Underwriter with the Department of Veteran’s Affairs since 2002.
Accredited VA Automatic Underwriter with the Department of Veteran’s Affairs since 2002.
My experience and credentials surpass 99.9% of all VA (Veteran Administration) and FHA One-Time Construction Close Lenders. Banks typically require 10%- 20% down vs $0 down VA & 3.5% down FHA.