One-Time Close--Construction to Permanent Loan

This one-time closing loan program is designed to provide financing to build, remodel, or improve a primary residence. This means you can move through the steps of construction with peace of mind, knowing your permanent financing needs are already in place. We offer pricing options and flexibility to meet your needs. This program offers 90% LTV up to 650k as well as an in-house process with dedicated personnel.

Two-Time Close

A two-time-close loan is actually two separate loans: a short-term loan for the construction phase and a permanent mortgage loan on the completed project. Essentially, you are refinancing when the home is complete. That means you'll need to get approved and pay closing costs again.

During the construction phase, you only pay interest on the money that has been paid out, so your payments will be small, but increase as more is disbursed. There may be a maximum duration for the loan, such as 12 months.

Jumbo Home Loans

A loan is considered a jumbo if it exceeds what is known as the conforming loan limit of $417,000. Qualifying for a jumbo loan usually requires lower debt to income ratios, higher credit scores, larger down payments, and higher savings as reserves than conforming loans. Our Jumbo loans have different interest rates than a conventional loan.

Conventional Home Loans

Conventional loans are “conforming” if they are generally $417,000 or less for a single-family home. Conforming loan limits can be higher in pricier regions of the country. Most conventional mortgages have either fixed or adjustable interest rates. Typical fixed interest rate loans have a term of 15 or 30 years.

A shorter-term loan usually results in a lower interest rate. Adjustable-rate mortgages (ARMs) fluctuate in relation to the rate of a standard financial index, such as the LIBOR. Monthly payments can go up or down accordingly.

FHA Loans

Since the 1930s, FHA has made homeownership a reality for millions, and it can be your best option for achieving the dream of homeownership. Our FHA program offers:

  • Low Down Payment

  • Flexible Credit Review

  • Fixed or Adjustable Rate

  • Limited Closing Costs

  • No Prepayment Penalty

  • Streamlined Documentation on Refinances

VA Loans

VA loans are guaranteed by the US Department of Veterans Affairs. They are available to active, reservist, and veterans of the armed forces. The VA determines eligibility and issues a Certificate of Eligibility. VA loans offer low or no down payment and do not require monthly mortgage insurance. They can be used for purchase or refinance.

Contact us for more information. Our professionals are happy to work with the future homeowners of Oklahoma City, Oklahoma, and the nearby communities.