Construction Financing

Financing Programs and Offers:
Benefits of A One-Time Close Loan
  • Lower Cost
    One appraisal, one set of closing costs, one underwriting and approval process. Get rid of the redundancy of a second closing and reduce all of the associated costs, allowing you to present a very attractive financing proposal to your customers.
  • Reduced Interest Rate Risk
    Rather than having to wait until near the end of the construction phase to lock in a rate for the permanent financing, with a One-Time Close loan, the rate is locked before the single closing, and before construction begins. No buyers nervously watching the market throughout construction. No concerns that a rate uptick could jeopardize final approval.
  • No Payments During Construction
    Buyers love this feature – Even though the final financing is in place at the start of construction, payments don’t start until the home is complete. This frees up funds for alternate housing making building a home much more affordable.
  • No Requalification
    Before the builders break ground the closing is complete, and there is no need for the borrowers to be requalified at the end of the construction phase. This eliminates concern that the appraisal might expire, or something could pop up in underwriting to cause headaches as the buyers are ready to move in to their new home.
Lenders we recommend for construction to permanent loans:

Brad Preisinger

Vice President – Mortgage – Construction Lending
Sandy Spring Bank
Office: 301-617-4244
Cell: 240-444-0445

BPreisinger@sandyspringbank.com
NMLS# 65335

Alex Nunemaker

FitzGerald Financial Group
Cell: 240-285-5335
Alex.Nunemaker@fitzgeraldfinancial.net
NMLS# 319721

Brian Lanning

Severn Bank
Mortgage Loan Officer
O: 240-770-0996
Cell: 4240-405-0859
blanning@severnbank.com
NMLS# 1308702

One-time Close Construction to Perm Loans

Steven A. Fennington

Frederick County Bank
Mortgage Loan Officer
O: 240.529.1561
Mobile: 301.672.3958
sfennington@fcbmd.com
NMLS# 516821

Title companies we recommend:
Patti Kalamets

Village Settlements
Parker, Hollman, Simon, Hahn, DeLisi, LLC
240-784-0467
pkalamets@villagesettlements.com