Building a new home from the ground up is an exciting journey, but it requires careful financial planning. One of the most efficient ways to finance your new build is through the One Close Home Construction Loan provided by First National Bank of Michigan. We simplify the financing process by combining construction and mortgage financing into a single transaction, reducing complexity and costs.

Why Choose a One Close Home Construction Loan?

A traditional construction loan often requires two separate loans—one for the construction phase and another for the mortgage once the home is complete. This process involves multiple applications, approvals, and closing costs. In contrast, One Close Home Construction Loans streamline everything into one loan, eliminating the need for a second closing and reducing paperwork, fees, and uncertainty.

How It Works

With our One Close Home Construction Loan, the loan is approved by our local team and closed before construction begins. Funds are disbursed in stages to pay for materials, labor, and other construction expenses. Once the home is completed, the loan automatically converts into a traditional mortgage with a fixed interest rate, providing long-term financial stability.

Benefits of a One Close Loan from First National Bank of Michigan

• Single Application & Closing – Avoid the hassle of applying for two separate loans and paying multiple closing costs.
• Fixed Interest Rate – Lock in your interest rate early, protecting you from potential rate increases.
• Simplified Process – One loan means fewer steps, reducing stress and uncertainty.
• Predictable Payments – Know what your monthly mortgage payment will be once construction is completed.

Is a One Close Home Construction Loan Right for You?

If you’re planning to build a new home and want a smooth, cost-effective financing solution, our One Close Home Construction Loan may be the ideal choice. This type of loan is particularly beneficial for those looking to minimize fees, simplify the process, and secure long-term financial predictability.

Contact an FNBM Mortgage Specialist today to explore your financing options and start building your dream home!

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