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
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.
Renovate your existing home from cosmetic changes up to a complete remodel; add a pool, redo a kitchen, update the bathroom or other
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
First United Mortgage Group’s Platinum Builder Program is tailored to fit the needs of builders.
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