OTC - Builder Advantages
First Horizon One-Time-Close financing program gives you real flexibility and secures your home building projects from start to finish. One-Time Close approves and offers the construction loan directly to the homebuyer, so your credit line remains open for other projects. When the new home is completed, the loan rolls into permanent financing for the customer, eliminating the chances of buyer fallout.
Other advantages of One-Time-Close financing include:
•· Easy draw procedures to maintain cash flow during construction
•· One process and closing procedure saves everyone time
•· No speculation, as the house is already sold
•· Less change orders because the borrower has a set and approved budget based on the plans, specs, and contract that you have provided.
Call me today for more information about One-Time-Close. It's construction lending that makes sense for builders.
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