One-Time Close
Program Summary
For Manufactured, and Modular housing. Financing for construction, lot purchase, and permanent mortgage funding all with a single One-Time Close loan. No Re-Qualification. No Second Appraisal.
MORE ABOUT ONE-TIME CLOSE
Why worry about re-qualifying or owing additional costs? Designed for Manufactured and Modular housing. This program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower, simplifying the construction and purchase process.
PROGRAM HIGHLIGHTS
- FHA Max LTV 96.5%
- VA Max LTV 100% (not including the funding)
- No payments due from borrower during construction
- No re-qualification once construction is complete
- Single closing reduces total costs
PROGRAM HIGHLIGHTS
- Available through FHA and VA
- 620 minimum qualifying credit score
- 15 and 30 year fixed rates available
- 1 Unit single family residences, doublewide and triplewide manufactured homes and modular homes permit.
Chuck Utlak |Real Estate Resource Home Loans
Owner/Banker |PH: 708-364-5133
Email: cutlak@rrhomeloans.com
Illinois-Indiana-Florida
This information is intended for use by Real Estate Professionals only and is not to be distributed to the general public. All loan programs, terms and rates are subject to change without notice. Additional terms and conditions may apply. Loan approval, rate and terms are dependent on your borrower’s credit score and financial history. All rights reserved. Real Estate Resource Home Loans is an Illinois-Indiana-Florida Residential Mortgage Licensee. Real Estate Resource Home Loans/16530 106th Court/Orland Park, IL 60467
