FHA Secure Loans and Mortgages - Call us for details
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Construction 2 Perm
If you are considering building your new home, we have a variety of loans custom tailored to your needs. We offer Owner Occupied, Second Home, and Investor construction to permanent loan with no money down. We can even roll your payments into your loan.
13 Steps to this Loan
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Conforming
If you have excellent credit and verifiable assets more than likely you are a conforming borrower Conforming loans have terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac.
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Clear Choice Timber Loan Features
Clear Choice Timber Loan:
This loan is called an OTC or 'one time close loan’. We provide the lot, construction, and permanent
financing at one closing with one set of closing costs. During the construction phase, periodic draw
payments are made to the builder based upon work completed. In some cases we are able to make your
clients interest payments during the construction phase. Monthly interest payments are made to the
lender. At completion, the loan modifies to a permanent loan. The construction interest rate and permanent
loan rate can usually be locked in to protect the buyer from increases in interest rates during construction.
The OTC Loan has the following advantages:
• A single lender is used throughout the process.
• There may be local and federal tax advantages of
a single step loan.
• Closing costs duplication is eliminated.
• The interest rate during construction and the
permanent loan rate can be locked.
• Float down option gives the borrower the power to
lock a lower rate after construction is completed if
rates are better.
• Builder is funded up to 10% to begin construction
at the closing table.
• Real estate agents are paid commissions at the
closing, not at the end of construction.
• Builder paid for lot at the closing table (lot is paid
off at closing)
• Use your customers credit to fund the build out of a
single home or a whole development.
• 24 hour 7 day per week draw request.
• Funds usually wired into the builders’ bank account
within 48 hours.
• 100% of LOG HOME PACKAGE PAID ON
DELIVERY.
- Submit Application
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| Clear Choice Timber Loan:
This loan is called an OTC or 'one time close loan’. |
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