Capital Home Mortgage Seattle

Seattle One Time Close Home Loans

One Time Close Mortgage Lender Seattle

One-Time Close Construction Loan In Seattle

Buying a home is a dream not many can afford. But with sufficient savings and the determination to see it through, it’s not impossible. If you’re ambitious and have chosen to build your house from scratch instead of buying an already built one. To explain in full detail, we will tackle construction loans and the many complexities involved in applying for them.  

What Is A Construction Loan?

Anybody looking to build their dream home will use a construction loan. It carries a higher interest during construction and must be converted to permanent financing once completed. Unlike a commercial home loan determined by the condition of the property and its market value, residential construction loans are based on the property’s projected value after completion. 

A construction loan is like any other home loan used to cover the expenses of rehabilitating and building a home. Still, it carries a higher interest during construction and must be converted to permanent financing once completed. Contrary to a commercial home loan determined by the condition of the property and its market value, residential construction loans are based on the projected worth of the property after completion. 

A single-close construction loan is a home loan that the borrower may use to close both the construction phase and the permanent financing of the new home simultaneously. Only one loan covers the interim construction and the permanent loan under one promissory note and one deed of trust with a single closing.

Benefits Of One-Time-Close Construction Loan

  • Reduced and Limited Closing Costs

A single-close construction loan carries one set of closing costs instead of two. After completing the home, the borrower doesn’t have to get interim financing for the construction loan and permanent funding. Since there is only one set of closing costs, this construction loan saves the borrower some money by not paying for closing costs twice.

  • Fixed Interest Rate Option

With a one-time close construction loan, the borrower can lock the rate at any stage of the construction. The interest rate is predetermined, and there are no surprises at the end.

  • One-Time Qualification Process

The borrower has to qualify for the loan only once. There is always an element of risk in a two-time close transaction because the borrower must be eligible twice, once for the construction stage and re-qualify again for the loan when the house is finished. 

  • Single Appraisal Requirement

The traditional two-time close construction loan carries two sets of closing costs and two separate appraisals the borrower pays. The first appraisal is done for the construction loan, and the second is for permanent financing.

A one-time-close construction loan requires only one appraisal before closing on the loan. This means no surprises when the house is completed.

Apply for a One-Time Close Construction Loan

Capital Home Mortgage’s one-time close construction loans assist Seattle homebuyers in various ways. It saves time and money by eliminating multiple closings. Traditional construction loans require separate closings for construction and permanent mortgages. Buyers save money by bundling these loans. When they can’t find a suitable home, the one-time close loan lets buyers create their dream home. These advantages make Capital Home Mortgage a good alternative for Seattle homebuyers building their dream house.

For additional information and details about one-time-close construction loans, please contact our Construction Loan Specialists at 253-528-4417 or use the tools on this site to get started.

Why Seattle HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates and Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Seattle Washington 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

Seattle 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
Seattle Mortgage Programs

Seattle Home Purchase

Thinking of Buying a Seattle 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

Seattle renovation home loans

Looking to Rehab a Seattle 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

Seattle FHA Home Loans

Great for 1st Time Seattle 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

Seattle VA Home Loans

100% Financing for Seattle 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

Seattle Conventional Home Loans

Flexibility for Seattle 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

Seattle Jumbo Home Loans

Seattle 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

Seattle USDA Home Loans

100% Rural Seattle 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

Seattle Native American Home Loans

Seattle 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

Seattle Manufactured Home Loans

Great Alternative Seattle Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.

  • Existing Purchase or Refinance
  • OTC Land/ Home Combo
  • Lock Rate Before Completion
  • FHA, VA, USDA, & Native Loans

Seattle reverse mortgages

Your Seattle 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

Seattle Non QM Home Loans

Making Seattle 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

Seattle One Time Close mortgages

Build Your Seattle 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

Seattle Refinance Mortgage Loans

Seattle 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

Seattle Cash-out Home mortgages

Seattle 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

Seattle Washington Mortgage Team

Jordan Mowrey

Sr Loan Officer
NMLS 1604319

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

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