1. All-In-One Construction Loan - This is a true one time close construction loan. You will close the loan with up to 12 months to complete your home. During the construction phase you will take draws to pay for the work as it is completed and only pay interest on the outstanding balance. Once the home is completed your loan will convert to a 29 year loan with standard principal and interest payments. The greatest thing about the All-In-One Loan is that once your house is complete, and you are ready to convert, you will have the option of floating your interest rate down if rates are lower! The rate cannot go higher than the original rate but it can go lower!  When you consider that our original rate will be lower than many companies who will not offer you the float-down option you will see that you can't lose with the All-In-One!

2. Flex-One Construction Loan - The Flex-One is similar to what most companies call a One Time Close Construction Loan. The difference in the Flex-One is that your interest rate during the construction phase will be based on the Prime Rate instead of your Note Rate. Since Prime Rate is usually lower than Fixed Rate Mortgages you will most likely save money during the construction phase.  Once your home is complete the interest rate for the remaining term will be set at the market rate. The market rate could be higher than it was when you started or it could be lower.  

3. Standard Construction Loan - The Standard Construction Loan is simply to have two entirely separate loans. The Construction Loan will be an interest only loan that will be based on the Prime Rate.  You will pay this loan off with any one of our standard loans.  

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