Choosing each detail. Selecting thoughtful touches. Having a vision and seeing it come to life. A custom-built new home can be a dream come true for many, but it can be overwhelming. A one-time close loan can simplify the financing aspect and bring you peace of mind.
Traditionally, new construction has meant multiple loans for the various components of the project: the loan for the land, the construction loan, and then the permanent mortgage loan. Guardian Mortgage’s One-Time-Close Loan takes care of all three—it consolidates the land purchase, construction costs, and long-term financing of your finished home into just one loan, eliminating unnecessary financial hassle throughout the process.
Because there’s only one loan, there’s only one application. If you have been through the loan application process before, you’ll appreciate the work and energy that this saves. It reduces paperwork and prevents you from having to duplicate all of your documentation. Our professional loan originators are here to help you gather all of the requirements and take advantage of this time-saver.
Since there’s only one loan, there’s only one closing. This can potentially save you money in closing costs, not to mention a reduction in paperwork, travel, and time. The process becomes simplified and leaves you more energy to handle the details of your new home rather than the details of multiple loans and closings.
Maybe the best benefit of all is being able to lock the interest rate from the start. A locked rate ensures that you’ll be able to know and budget for your new long-term mortgage payments. Many times in construction situations, the permanent mortgage rate is undetermined until construction is complete. Consider a one-time-close-loan your safety net to protect against rising rates and enjoy the peace of mind that comes from having an interest rate that’s already determined as your dream home becomes reality.
A one-time-close loan might help eliminate stress and uncertainty when you’re dealing with the tasks of building a new home. Our mortgage professionals would love to walk you through the process and help you decide if it could benefit you as you bring your new home plans to life.