Single Loan Close Construction Program

Single Loan Close Construction Program

Are you ready to build your dream home? Our Single Loan Construction Program makes getting one loan for the entire process simple. Let us focus on getting you financed while your general contractor focuses on building the house, so you can start to prepare for life in your dream home

What is the Single Loan Close Construction Program?

Waterstone Mortgage’s Single Loan Close Construction program helps streamline the process of building your dream home and securing permanent financing. A single construction loan can cover the cost to purchase the land or lot, the cost to construct the home, and your mortgage - all bundled into one monthly payment.

What are the Benefits of Getting a Single Construction Home Loan?

Benefits include:

  • Just 5% down payment required
  • Hassle-free draw process for builders
  • Interest-only payments on outstanding loan balance during construction
  • Adjustable-rate mortgage (ARM) and fixed-rate options for permanent financing which begins after construction is completed
  • After your home is built, principal & interest (P&I) payments begin

How Can I Learn More and Apply for a Construction Loan?

Locate your nearest Waterstone Mortgage home loan professional who will walk you through our construction loan and the application process.

We'll work with you, and your builder from start to finish to ensure financing goes as smooth as the build process. This allows you and your general contractor to focus on creating the home of your dreams. Get started with a pre-approval!

Geographic restrictions apply — contact a mortgage loan professional for additional information. Interim construction period not to exceed 12 months. The interest-only feature allows you to make minimum interest payments for a set period of time. When the interest-only period end, the monthly payment is recalculated to include full principal and interest payments for the remaining loan term.