One-Time Close Construction Loan
Get your construction and mortgage loan all in one.
Altabank offers a One-Time Close option that includes your construction loan as well as your long term mortgage in the same loan. This new all-in-one construction loan gives you 12 months to build your home, and then automatically converts into your long term mortgage, saving you time, money, and giving you peace of mind that you're one and done!
What Are the Benefits of One-Time Close Construction Loan?
- Qualify one time for your loans.
- Save money with only one set of costs.
- Contact your mortgage loan officer for a rate and fee quote.
- Lock your interest rate in up front.
- The rate extends through your long-term mortgage.
- Choose from multiple mortgage loan options including 5-1 AIOARM, 7/1 AIOARM, 10/1 AIOARM.
- Make interest-only payments during the 12-month construction phase of your loan.