Avance Group USA
CONSTRUCTION LOAN
BUILD YOUR FUTURE
ONE-TIME CLOSE CONSTRUCTION LOAN
A Single Close Construction to Permanent loan is a home mortgage that can be used to close both the construction loan and permanent financing of a new home at one time. With a Single Close Construction loan, the process is streamlined: A single mortgage loan originator, a single loan, and a single closing process. This saves money, helps reduce the time to move into your house, and protects you against unforeseen circumstances down the road.
TWO-TIME CLOSE CONSTRUCTION LOAN
Two-close construction loans, or multiple loans, require that you get approved for two separate loans. The first loan will fund the physical construction of your home, and then you’ll need to apply for—and get approved for—a separate long-term loan on the completed home, to refinance the construction loan to a 15- or 30-year mortgage