Construction & Renovation Loan Programs

First United Mortgage Group can help you with your dream of building or renovating your dream home.

 

One- & Two-Time Close Construction to Permanent Loan Programs

First United Mortgage Group makes loans the same way the best contractors build homes:  with a solid foundation, an efficient timeline, dependable communication, and hard work —finished out with classic design.


Our One & Two Time Close Construction to Permanent Loan Programs are designed to provide buyers with financing to build, remodel or improve a primary residence. We offer flexibility to meet your needs,
whether the project is new construction or simple improvement.

One-Time Close Borrower Benefits:

  • Interest rate locked at initial closing and rate remains the same after loan is converted to the permanent loan

  • Offers a modification option to qualified Borrowers, upon completion

  • One set of closing costs

  • Involves the Borrowers in the draw process

  • Affords Borrowers confidence knowing their permanent financing is secure

Two-Time Close Borrower Benefits:

  • Great for customers who live in more rural areas

  • Perfect to use a specialty program as a permanent loan 

  • Allows for more flexibility in qualifying if there is an existing home to sell

One-Time Close Renovation Loan Program 

First United Mortgage Group’s One Time Close Construction Renovation Loan Program allows you to finance the purchase of a home, plus the cost
of renovations, so you can turn a house into your dream home.

Program Advantages:

  • Renovate your existing home from cosmetic changes up to a complete remodel; add a pool, redo a kitchen, update the bathroom or other
    renovations

  • We offer a variety of terms to fit your needs.

  • There are no restrictions on the cost of the improvement in relation to the value of the home

  • Loan-to-value (LTV) based on appraisal after improvements

Platinum Builder Program

First United Mortgage Group’s Platinum Builder Program is tailored to fit the needs of builders.

Program Advantages:

  • First United will credit the cost of the Owner Title Policy to the Platinum Builder buyer who closes with financing from First United Mortgage Group

  • There are no adjustments to rate pricing to cover this expense by First United

  • Keeping the client and builder updated is a priority

  • In-house processing and underwriting to ensure a smooth in-house closing

  • First United Mortgage Group retains servicing of most loans

  • Local lender, local appraisers

This is not an offer for extension of credit or commitment to lend. All loans subject to program guidelines and final underwriting approval. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. This offer cannot be used in conjunction with any other promotion. The content in this advertisement is for informational purposes only. Consult your mortgage loan consultant for further information. If any other entities are mentioned in this advertisement, they are not an affiliate of First United Bank or First United Mortgage Group. NMLS 400025. Copyright © 2024 First United Bank. All Rights Reserved.