1 time close loan

Because of the volatility of the current housing market, most lenders have discontinued their 1 time close construction loans... you're going to have to get the construction loan, and then apply for a mortgage once it's complete.. I recently had a borrower who built a custom home, $700K.. He used $300K of his own money, and it took 11 months to complete.. When he applied for the mortgage, he no longer qualified since his business income had drastically reduced.. He had plenty of cash reserves, but not enough income to qualify.. It's this very reason that most lenders will not do the "one time close" type construction loans.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hey Jim, Tom from Anthem Mortgage. We had that program awhile ago with several lenders, but I dont think I have one lender left on the wholesale side that can help with that. I would try either Wells or Bank of America!Good luck to you!

Hey Andrew from CC Funding. We had that program awhile ago with several lenders, but I dont think I have one lender left on the wholesale side that can help with that. I would try either Wells or Bank of America! Good luck to you!

Possibly. I will need to get back with you. We have a multitude of specialty lenders. Would you kindly contact me directly? barb.lanis@1amllc.com

i do construction loans go to www.yourloanpartnerforlife.com linda

If none of the people here can help you Washington Federal has that loan program but not sure if they are in Colorado. The rate is a little higher since it is a Jumbo but it's not bad.

Not an easy loan to find, even many of the direct lenders (Wells, SunTrust) have tightened up their guidelines, especially for a jumbo loan. I'm checking with a contact - otherwise Good luck!

One time close construction loans are hard to find, but still available. I never cared for them because they force you use the same lender and accept their final long-term rates when the time comes. Almost without fail, those long-term rates are not the best in the market. So you save a little on a closing just once, but pay a lot over time with a higher rate.