Construction loan/one time close

[Sticks&Strings]

I'm on the hunt. Any recommendations from the GS. I have a bank I can do a two time through, but I really want a one time close. Looking for the best rate and one that is good with self employed borrowers.

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[stickemhard3]

I am doing a 2x through based on interest rates are double on construction loan versus mortgage. Or were for me. I did not go best rate on my construction rate.

[easeup]

lenders want their closing monies.

[GARY]

I'm on the hunt. Any recommendations from the GS. I have a bank I can do a two time through, but I really want a one time close. Looking for the best rate and one that is good with self employed borrowers.

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I am using Prosperity on my barndo. Construction loan % isn't comparable to your fixed note after conversion. Saying that, mine is set up to not start until I start drawing on loan portion (Put 50% down) and it's on a draw basis (meaning each draw is a standalone calculation). Net, net I am paying the higher rate for about 6 months in a year build before it flips to the lower mortgage rate.

[CabezaBlanca]

Check out Capital Farm Credit. They offered it back in ‘16. If they still offer it I’m sure the terms have changed. They were great to work with.

[BlackoutRam2500]

Here you go. She handled mine back in 2019 when she was with First United. Her team is top notch.

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[Kevin]

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