Capital Home Mortgage New Mexico

New Mexico One Time Close Home Loans

New Mexico One-Time Close Construction Lender

One-Time Close Construction Loans In New Mexico

What is a One-Time Close Construction Loan?

A one-time close construction loan is a mortgage program that combines the construction, lot acquisition, and permanent loan financing for a new home into a single mortgage with a single closing. This loan eliminates the need for borrowers to go through two separate closings and re-qualification processes, previously necessary for most construction loans. Borrowers benefit from one-time close construction loans in various ways, including affordability, because they only pay for one closure and the option to lock in their permanent interest rate simultaneously.

One-Time Close vs. Regular Construction Loan

The main difference between a one-time close construction loan and a regular construction loan (two-time close) lies in the number of closings and the structure of the loans.

  • Number of closings:

A one-time close construction loan combines interim and permanent construction loan financing into a single loan that requires only one closing. On the other hand, regular construction loans necessitate two closings: one for the construction phase and another when converting to a permanent mortgage.

  • Closing costs:

A one-time close construction loan requires only one payment of closing fees, but regular construction loans require payment of closing costs twice — once for each loan.

  • Payments:

One-time closing construction loans typically involve interest-only payments during construction, with a lump sum due at the end. Payment structures for regular construction loans might vary depending on the lender and loan terms.

  • Rates:

One-time close construction loans may have higher interest rates than traditional mortgage loans.

  • Flexibility:

One-time close construction loans are prepackaged programs, but regular construction loans may provide more flexibility regarding loan structure and terms.

  • Loan-to-Value

The loan-to-value ratio in a one-time close construction loan is usually determined by the lesser of the project cost and appraised value. Regular construction loans may have varying loan-to-value ratios depending on the loan program and lender regulations.

Types of One-Time Close Construction Loans

This is a government-backed mortgage program for single-family stick-built homes, new manufactured homes for primary residences (excluding single-wide mobile homes), and modular homes.

This loan is intended solely for eligible veterans and service members, and it combines construction, lot acquisition, and permanent loan financing into a single closing.

  • USDA One-Time Close Loan

A rural development loan is accessible in some rural and suburban areas and provides a 30-year fixed-rate mortgage with no down payment.

Single-family homes, owner-occupied properties, modular, manufactured, stick-built, and doublewide homes are just a few property types that can be used with these one-time close construction loans. Various loans may be available depending on the specific loan program and the borrower’s qualifications.

Apply for a One-Time Close Construction Loan in Florida

Numerous factors must be considered when constructing a new residence. Capital Home Mortgage can facilitate this process with a One-Time Close Construction Loan. We provide a seamless process from the initial groundbreaking to the final move-in. Our Loan Officers will collaborate with you and your home builder to guarantee a smooth transaction.

To speak with one of our Construction Loan Specialists, call (505) 448-8884

Why New Mexico 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 Mortgage Payment

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

New Mexico 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
New Mexico Mortgage Programs

New Mexico Home Purchase

Thinking of Buying a New Mexico 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

New Mexico renovation home loans

Looking to Rehab a New Mexico 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

New Mexico FHA Home Loans

Great for 1st Time New Mexico 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

New Mexico VA Home Loans

100% Financing for New Mexico 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

New Mexico Conventional Home Loans

Flexibility for New Mexico 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

New Mexico Jumbo Home Loans

New Mexico 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

New Mexico USDA Home Loans

100% Rural New Mexico 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

New Mexico Native American Home Loans

New Mexico 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

New Mexico Manufactured Home Loans

Great Alternative New Mexico Housing

New Mexico reverse mortgages

Your New Mexico 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

New Mexico Non QM Home Loans

Making New Mexico 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

New Mexico One Time Close Home Loans

Build Your New Mexico 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

New Mexico Refinance Mortgage Loans

New Mexico 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

New Mexico Cash-out Home mortgages

New Mexico 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

New Mexico Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Kathy Rubin

Sr Loan Officer
NMLS 204449

New Mexico Mortgage Reviews

New Mexico Cities

Albuquerque Home Loans

Las Cruses Home Loans

Rio rancho Home Loans

Santa Fe Home Loans

Roswell Home Loans

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Farmington Home Loans

Hobbs Home Loans

Clovis Home Loans

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