One-Time Close Construction Loans in Kentucky

If you are going to build a new home, you need to fund its construction, but you also will need permanent financing. A simple way to kill two birds with one stone is to apply for a one-time close construction loan.

What is a One-Time Close Construction Loan?

A one-time close construction loan is an all-in-one lending product that lets you close a single time for a construction loan along with permanent financing.

One-time close construction loans go by a variety of other names as well. They may sometimes be called “construction conversion” loans or “single-close construction to permanent” (SC CTP) loans. As you will discover below, SC CTP loans offer numerous advantages.

Benefits of Kentucky One-Time Close Construction Loans

Why apply for a one-time close construction loan?

• Close just one time. You will save time, money, paperwork and hassles by closing a single time rather than closing two times.
• The streamlined nature of this lending product will help you to keep your construction project moving forward on time.
• The overall risk associated with a one-time close construction loan is lower than the risk associated with having to close two times.
• This type of loan helps you lock in a fixed interest rate, keeping your mortgage costs predictable.
• Instead of needing to get two appraisals, you only require one. This saves you money on the appraisals and further reduces your risks.

Apply Now for a One-Time Close Construction Loan in Louisville or Beyond

If you are ready to take the next steps with financing your new home, a one-time close construction loan can help you move ahead with your project.

Please give us a call at (502) 657-4299 to schedule your consultation. We can help you finance home construction in Kentucky, Tennessee, Indiana and Florida.