One and Done Construction Loan
Planning to build your dream home? At 1st Source, you can manage the entire home financing process – from the first shovel of dirt to the last mortgage payment – all in one step.
It’s called a one-time construction loan. It’s quick. It’s convenient. And it can save you money.
Process - All financing for your home’s construction AND mortgage are taken care of up
front at a single closing.
- Lower Fees - You pay a lower loan origination fee.
PLUS, since you only pay closing costs once, they’re typically less than the traditional
two-closing loan process.
- Locked-in Fixed Rate - Your rate is locked up to 45 days prior to closing, giving you peace of mind against a potential increase in rates from the time construction begins to the time your mortgage does.