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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

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© 2023  First United Bank. All Rights Reserved.


Contact Us |  Complaint |  NMLS # 400025 | Member FDIC

© 2023  First United Bank. All Rights Reserved.


Contact Us |  Complaint |  NMLS # 400025 | Member FDIC