Spurr Mortgage

233 E. 10th Street Plaza

Suite 3

Edmond, OK 73034

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One Time Close Construction Loan

Loan is serviced right here in Oklahoma.
Let's ConnectCall 405.348.9919

Locally Owned | Local Experience | Local Community Lender

 33+ Years in Business

What is a One Time Close Construction Loan?

Traditionally, new construction has been done in three phases:
1. Loan to purchase the land
2. Loan to fund the construction and then finally
3. Converting to a 30- or 15-year permanent loan.

What are the benefits of One-Time Close Construction Loan?

In today’s rising interest market, you will be able to:

  • Get a loans amount up to $726,200.
  • Loan to Value up to 90%.
  • Qualify only once!  With only one Appraisal!
  • Interest Only Payments during Construction phase.
  • Take up to 12 months to build.

Pay Closing cost is only once! Saving thousands in upfront expenses.  LOCK IN YOUR INTEREST RATE TODAY!

Loan is serviced right here in Oklahoma.

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What are the Qualifications for our One Time Close?

  • Minimum credit score is 640
  • Must use a Licensed/Approved Builder or General Contractor
  • Owner Occupied
  • No Mobile, Manufactured or Modular Homes
  • Barndominimums are allowed, subject to acceptable appraisal

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