The One-Time Close Construction Loan bundles the construction loan and the permanent mortgage into a single loan.
- Save you closing costs
- No prepayment penalty
- Interest-only payment during construction
- Loan automatically converts to permanent financing upon completion
- Options available
- Fixed rate
- Fully amortizing
- Balloon and adjustable rate
- Loan to Value Ratio1:
- Up to 80% for loans up to $1 million
- Up to 75% for more than $1 million
Explore Other Residential Loan Options | NMLS Listing
Membership qualifications to Private Banking at Broadway Bank apply. All loans subject to credit approval, verification and collateral evaluation. Rates,terms and conditions are subject to change without notice. Lending area and other restrictions apply. 1 The loan to value (LTV) is the lesser of the appraised value or the acquisition cost (cost of land plus cost to construct).