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One-Time Close Construction Loans In Arizona

A construction loan is short-term financing for constructing a new home or other real estate project. It covers building expenditures, such as land acquisition, labor, supplies, permits, and additional construction-related charges. Builders or buyers who custom-build their homes typically take out construction loans.

These are the primary characteristics of a construction loan:

  • Short-term loan: Typically, construction loans are short-term loans with terms of one year or less. They are intended to capture the project’s construction phase.
  • The interest rates on construction loans are typically higher than those on conventional mortgage loans. Due to the uncertainty and potential cost overruns associated with the construction process, these projects are deemed riskier.
  • The loan amount is typically disbursed in stages or “draws” as construction advances. The creditor submits requests for funds, and the lender releases the funds after verifying the achievement of particular construction milestones.
  • After construction is complete, the creditor can either convert the construction loan into a permanent mortgage or refinish it to pay off the construction loan. This procedure permits the creditor to switch from short-term to long-term financing for a completed property.

What is a One-Time Close Construction Loan?

A one-time close construction loan in Arizona is explicitly designed to finance the construction of a new home. It is a single loan that incorporates the financing for the construction phase and the permanent mortgage into one closing, simplifying the borrower’s experience. The loan covers the cost of construction as well as the land purchase, if applicable, and seamlessly converts into a long-term mortgage once construction is complete.

Advantages of a One-Time Close Construction Loan

One-time close construction loans provide several benefits to borrowers who wish to build a new home or undertake a construction endeavor. Listed below are several advantages:

  • Simplified Process

Borrowers go through a single loan closing process for both the construction period and the permanent mortgage with a one-time close construction loan. This simplified procedure eliminates the need for two closings, resulting in less paperwork and administrative chores.

  • Cost Savings

Choosing a construction loan with a single closing could result in cost savings. Borrowers save on closing costs that would otherwise be incurred for multiple loan closings because there is only one loan closing. This can be especially beneficial for borrowers seeking to minimize upfront costs.

  • Convenience

Borrowers can interact with a single lender throughout construction when they obtain a one-time close construction loan. They have a single point of contact for their financing requirements, making it easier for them to manage the loan and communicate effectively.

  • Single Approval

With a one-time close loan, borrowers only need to undergo a single approval process instead of multiple procedures for separate construction and permanent loans. This streamlines the financing procedure and reduces the time and effort required for loan approval.

  • Construction Expertise

The majority of lenders who offer one-time close construction loans are experts in construction financing. They understand construction projects’ unique requirements and challenges and can provide guidance and support throughout the process, ensuring borrowers have a more pleasant experience.

Apply for a One-Time Close Construction Loan in Arizona

Using Capital Home Mortgage for a one-time close construction loan in Arizona offers homebuyers numerous advantages. First, the one-time close feature simplifies the financing procedure by combining the construction loan and permanent mortgage into a single loan, thereby reducing documentation and administrative duties. Capital Home Mortgage offers low down payment options, low-interest rates, and flexible underwriting, making home ownership more accessible in a market with intense competition. Capital Home Mortgage facilitates a more streamlined and effective construction loan experience for homebuyers through a single closing and a dedicated team.

Call (480) 360-6650 to speak with one of our Construction Loan Specialists about your one-time close construction loan project.

Why Arizona HomeBuyers are Choosing Capital Home Mortgage

Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Arizona Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Arizona One Time Close Construction Home Loans

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage
Arizona Mortgage Programs

Arizona Home Purchase

Thinking of Buying an Arizona Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Arizona renovation home loans

Looking to Rehab an Arizona Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Arizona FHA Home Loans

Great for 1st Time Arizona Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Arizona VA Home Loans

100% Financing for Arizona Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Arizona Conventional Home Loans

Flexibility for Arizona Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Arizona Jumbo Home Loans

Arizona Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Arizona USDA Home Loans

100% Arizona Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Arizona Native American Home Loans

Arizona HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Arizona Manufactured Home Loans

Great Alternative Arizona Housing

Arizona reverse mortgages

Your Arizona Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Arizona Non QM Home Loans

Making Arizona Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Arizona One Time Close mortgages

Build Your Arizona Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Arizona Refinance Mortgage Loans

Arizona Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Arizona Cash-out Home mortgages

Arizona Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Arizona Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Brad Rund

Business Dev Manager
NMLS #224674

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