Greater Dallas Construction Loans
One Time Close Program – Available in the Greater Dallas Metroplex (Dallas, Plano, McKinney, Plano & Beyond)
The First United Bank Mortgage One Time Close Construction loan offers clients the ability to lock in a long term interest rate at the onset of construction. It also minimizes costs by avoiding two sets of closing costs which are charged on the traditional construction loan and subsequent refinance into the permanent financing.
- Greater Dallas construction loans designed for construction or remodel of a primary residence.
- Minimum loan amount $200,000; maximum $1,000,000
- Minimum credit score is 680
- Interest only on the note rate during construction then the loan modifies to an amortizing loan based upon the interest rate locked at the beginning of construction.
- Programs offered include 3/1 Adjustable Rate Mortgage, 5/1 Adjustable Rate Mortgage and 30 Year Fixed with a balloon payment in 15 years (loan must be greater than $417,000)
Why Choose One-Time Close Construction Financing with Us?
- Our knowledge of the local marketplace.
- We are locally based making it easy to give and receive documentation.
- We offer competitive pricing and the ability to choose between a short and mid range adjustable rate mortgage or a long term 30 year fixed rate product.This creates a consistent experience from the beginning to the end and sets FUBM apart from the competition.
At FUBM we offer all of the expertise of the construction process within the Mortgage Group along with very competitive products. From the beginning stages of approving the home project to the final stage of converting or modifying your construction loan into a permanent mortgage, the same Construction Lending Division handles your loan.
Call today for more information on our construction loans and other mortgage solutions – 972-591-3097.