WE HAVE A "ONE CLOSING NEW HOME CONSTRUCTION LOAN"
Apex Mortgage Broker's One-Time Close New Construction loan gives our clients (and Builders) a unique opportunity to buy the lot and build the home of your dreams. And the best part? One closing! Which means one interest rate (with the option to modify down if the market improves), one down payment, one full credit report to order and one approval. Available on conventional loans, including ARMs and high balance, and VA loans.
BETTER FOR EVERYONE
- More efficient. UWM, our Wholesale Lender, facilitates communication with the builder and provides us with checklists for the project approval and builder approval to help us keep the approval process moving.
- Ability to run Safe Check and BOLT. By utilizing Safe Check and BOLT on qualifying conventional loans, brokers can pre-approve their borrowers, provide valid pricing and clear conditions — all before submitting the loan into underwriting.
- No second approval needed. After we approve you for the loan you are good to go. We will guide the process to deliver a more seamless, efficient experience.
- Are you a real estate agent with land listings? We can help you gret your lot listings to a pending sale, so your buyers can start to building.
- We gain more referrals. You'll love our streamlined process. So we hope you tell all your friends, builder buddies, sub-contractors and real estate agents.
- Get more certainty. With no "second closing" your loan is locked even if the market shifts. You also have the option to lower your rate if the market improves.
- UWM will see it through. Once the loan is closed, UWM will handle the rest of the process. UWM will be in direct communication with the builder on subsequent draws, as well as subsequent inspections to confirm the project is on pace. This is why we send most of our loans to UWM.
BETTER FOR YOU... THE SOON TO BE HOME OWNER
- Save time and money. One closing means only having to cover one set of closing costs.
- No settling. With new construction, you really can have the home of your dreams.
- Low down payment. Down payments as low as 5% down for conventional and 0% down for VA make new construction loans accessible to more people.
- One approval. No need for a second approval.
- Modify down option. Once the loan is complete, you can modify down to secure a lower interest rate if the market changes or stay locked in no matter how the market moves.
- Build-period payments. Conventional borrowers can enjoy lower, interest-only payments while VA borrowers have no payments during the build period.
- Less out-of-pocket expense. You don't have to pay for the build and then get a mortgage. The mortgage pays for the build!
BETTER FOR BUILDERS AND CONTRACTORS
- Levels the playing field. Gives general contractors more freedom to build unique dream homes for their clients, rather than cookie-cutter developments.
- Get paid faster. Once the loan is closed, the cash is ready for labor and materials. It also saves the expense of having to pay for the build up front and then find a buyer.
One-Time Close New Construction loans provide a faster, easier way to help our clients get into the dream home they want. Talk to us about One-Time Close New Construction loans today!