Articles, Updates, and Guidelines
The One-Time Close Construction-to-Permanent Loan is a secure, government-backed mortgage program available for one-unit stick-built primary residences, new manufactured housing for primary residences (no singlewides), and modular homes. Our articles and updates are presented to keep you informed on loan guidelines, program changes, and topics to help you build and get financing for your own home.
October 12, 2024In 2020, the FHA and HUD announced pending changes to the FHA Single-Family Home Loan Lender's Handbook, HUD 4000.1. This was due to policy alterations in 2018 and 2019 which required the FHA and HUD to overhaul portions of HUD 4000.1 to accommodate the modified rules.
October 10, 2024Texas residents are finding out that they can utilize these low One-Time Close down payment programs in order to build a new home with the same underwriting guidelines and qualifications as if they were purchasing a resale. Now may be the time to start looking into building a home that suits your exact needs. Learn more about the One-Time Close construction mortgage.
October 7, 2024If you have started talking to construction lenders, escrow is likely a term you have encountered in your discussions. However, some aren't sure what escrow is or why it is necessary. Escrow is basically an account used in conjunction with an agreement between you and the lender.
October 5, 2024The headline of this article might make some ask, How long must I wait to apply for a construction loan after a certain event. And there are several answers you should know about. The key here is to understand loan program standards and lender requirements equally.
October 3, 2024Finding the perfect house in Tennessee that's right for your family can be difficult when there is not much inventory to choose from. This could be the right time to learn about the FHA / VA One-Time Close construction loan and build a home that suits your exact needs.
September 13, 2024Do you want to build a home using an FHA or VA One-Time Close loan? If you do not currently own land or you need to keep the land you already own for another purpose, there are several considerations when buying undeveloped land you want to use to build your dream home on. Building on a new plot of land can provide some borrowers with additional customization and personalization options. It may offer greater control over the design and layout of your dream home.
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