Traditional products
Express products
Additional Products & Services
or call Dallas Rivera, PPDocs, Inc. Client Services at 817.461.5500 for additional information and assistance.
One Time Closing Documents
Our One Time Closing product is a construction loan and a permanent loan rolled into one.
The first part of the loan is for construction, then after completion, the permanent loan
payments begin according to the terms provided in the Note. The interest rate is set for
both the interim construction and permanent loan at closing. This is a great product to
save closing costs and establish an interest rate now for the permanent loan. It allows a
borrower to purchase a lot to build their home, or if they already own a lot, and there is
a lien on that lot, it can be refinanced into this loan and any equity can be used towards
as a down payment.
Other loan programs can have three closing dates, one to purchase a lot, one for the
construction loan, and one for the permanent loan. This in turn means more closing costs
and is more time consuming for the Borrower. Borrowers can get their best interest rate
before construction begins. The fact that borrowers can go to closing one time, save on
closing costs and lock in a rate for both the construction loan and permanent loan are all
great marketing tools and can give you a competitive edge. The program starts out with
interest only payments during the construction period. This rate can be fixed or floating
and the loan documents will state the completion date of the construction period and when
the permanent payments are to begin. After the construction period, it immediately
converts to principal and interest payments for the permanent part of the loan and is a
traditional mortgage. This permanent rate can be a fixed rate or an adjustable rate.
We provide full service documentation and support for this One Time Closing Program.
The Challenge |
Our Solution |
- Avoiding multiple closings, extra time, and costs, while obtaining accurate
and on time documentation.
|
- Our systems are well designed to handle the complexities of One Time Closing
loans and our knowledgeable staff is here to help.
|
Advantages of using our services
- Save time by entering data once and get one set of documents
for both the construction portion and permanent portion of the loan. Our experienced
staff can walk you through the process and help make it easy.
Document Samples
One Time Sample Package
Two-Time Closing (with Modification) Sample Package
How to get started:
Order today or contact us for more information.
Stay connected
