Single Close Construction
It's easy to bank with Merchants Bank™
Single Close Construction
It's easy to bank with Merchants Bank™
A Cost-Effective and Convenient Way to Build Your Dream Home
With our single-close construction loan, you can finance the interim construction costs and permanent mortgage of your new home build with one loan. We provide the convenience of qualifying once, reduced closing costs, locked in interest rate, and one set of closing documents.
Specifics
- Prevents the need to secure multiple loans to build a new home
- One-time closing eliminates interest rate risk by locking in the interest rate at closing
- Maximum Loan-to-Value is 80%
- Loan is for primary residence only
*All applications subject to credit approval.
NMLS #554119
Contact Us
Have questions about the Single Close Construction Loan? Contact us today!