Construction Loans

Embark on the journey of building your dream home with Mohave Mortgage's Construction Loans – the ultimate solution to finance your home from the ground up! Our one-time close construction loan, also known as a single-close or construction-to-permanent loan, revolutionizes the financing process by seamlessly integrating the construction phase and permanent mortgage into a single, simplified transaction.

This innovative loan structure involves a single application and closing process, eliminating the need for separate loans for construction and permanent financing. During the construction phase, funds are disbursed in stages to cover building costs, with borrowers having the flexibility to make interest-only payments on the amount disbursed. Upon completion, the loan seamlessly converts into a permanent mortgage, establishing terms like interest rates and repayment schedules from the outset.

One of the key advantages is the ability to lock in mortgage terms early, providing borrowers with certainty about long-term financing costs, especially in anticipation of rising interest rates. The streamlined process not only saves time and paperwork but also contributes to potential cost savings, as there is only one closing for both phases, lowering overall closing costs. Mohave Mortgage's one-time close construction loan offers unparalleled convenience, simplicity, and potential savings, making it the ideal choice for those embarking on the exciting journey of building a new home.