One Time Close!

Construction + Permanent Financing in One Mortgage!

Builders Advantages (Download Builders Application)

u  Reduced Construction Cost

►  Price homes more competitively without the expense
          of construction loans.

►  No monthly interest bills.

u  Reduced Risk to Builder

►  Does not encumber builder credit lines.

►  An attractive alternative to builder interim financing.

►  Builder can use regular construction loan for spec homes,
          not custom pre-sales.

►  Since loan is closed prior to construction, builder does not
          lose buyer due to escalating interest rates.

►  Builder can have more units in progress.

u  Increase Builder Profit

►  If the builder owns the lot, it is not a problem.  The builder
          will get paid for the lot at closing.

►  Reliable draws by wire, check, or deposit.

►  Simplified builder approval process. 
            (Download Builder application.)

Buyer's Advantages

u  Save Money

►  Pay closing cost only one time.  This is a significant savings
          over two-time closing programs.

►  Low Down-Payments.  Finance up to 95%.  In most cases
          we look at the appraised value, not cost!

►  Lock the interest rate before you begin construction.  This could
          save you thousands, and protects you from escalating interest
          rates during construction.

►  One Application - One Qualification, One Underwriting, and
          One Approval.

►  Pay interest only during the construction period, and only
          on the amount advanced for construction.

►  Various mortgage products, including 30-Year fixed,
          1-Year ARM, 3/1 ARM and 5/1 ARM.

►  Keep Control - You sign off and approve advances to
          the builder.

►  Peace of mind - knowing that you do not have to re-qualify
          or be re-approved when the construction is complete.

Program Highlights

u  Loan Amounts to $3,000,000

u  Finance up to 95% LTV

u  Loan can be based on appraised value, not cost.

u  Cost that can be included:

►  Soft Cost including architect, engineering, soil  reports,
          permits, etc.

►  Hard Cost including - cost of construction contract.

►  Closing Cost including origination fee, appraisal fees,
          processing fees, documentation fees, title insurance,
          escrow fees, recording fees, and more.

u  6 - 18 months construction.

Need more information on the One Time Close Mortgage?

Contact Michael McCord - 1-800-881-8568 or michael@mdfn.com