Different Types of Construction Loans in Texas. There are two primary types of home construction loans in Arlington – Stand-Alone Construction Loans and One-Time-Close Construction Loans. Depending on your borrowing qualifications, each loan type has its own advantages and disadvantages.
A construction loan from security service saves money and time with up to $5,000 in select closing costs paid and only one application required.. One-Time close loan. financing available for properties in Texas, Colorado or Utah. Membership eligibility required.
FHA One-Time Close Construction Loan Requirements – Construction loans typically require two loans-one to purchase, and one to pay for the construction. Under the FHA One time close construction loan program, also known as an FHA construction-to-permanent mortgage, there is a single loan.
She has the ability and experience to close all types of loans, including Jumbo, Portfolio, Conventional, FHA, and VA, and specializes in One Time Close construction loans. From 2012-2016, Anna has been named one of D Magazine’s Best Mortgage Professionals in Dallas.
A single close construction loan, also known as a one time close construction loan, provides construction funding and is also the permanent financing. This is in contrast to a more traditional interim construction loan which would require "take out" permanent financing to pay it off.