Building your dream home is twice as easy with One-Time Close from Benchmark Mortgage.  This innovative loan program saves you time and money by combining your home's construction and permanent financing into one loan.  This means one loan ... one approval ... one process ... one closing!  And when its time to move in, your loan automatically converts to permanent financing.

Other conveniences include:

• You can wait until your new home is completed to sell your existing home.
• 5% Down Payment is possible with credit scores above 700.  The loan amount is 95% of the lot, construction costs and closing costs.
• 10% Down Payment is required if credit scores are under 700.
• You can add a second mortgage, eliminating your need for private mortgage insurance.
• Extended rate cap locks for up to 360 days.
• Construction loan is normally 12 months.  It is possible to plan for 18 months on construction on a case by case basis.
• You can wait to sell your current home until construction is started.  As long as your home is sold and closed when the new home is finished, you are fine.

Contact us for more details. 

Questions and Answers regarding the One Time Close.