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At Indigo Mortgage, we love to assist in the lending for the home of your dreams. Construction Loans today offer many choices in the term of the mortgage loan, and if it’s fixed or variable interest. One type of construction loan offers a “one time close”, and can also be known as an “all-in-one,” “rollover” or “construction-to-permanent” loan. This loan has one set of fees and one closing. Other borrowers might choose a short-term loan that is refinanced into a new conventional mortgage when the construction is finished. This two time process has two sets of closing costs and you have to re-qualify for the new loan once the home is finished, but may offer more flexibility when shopping for a conventional mortgage. Indigo Mortgage also offers the traditional construction loan.

Our Construction Division has recently expanded and offers the best rates available in construction lending. If you have any questions on a Construction loan, use our Quick Loan Analysis form. It’s fast, easy, and doesn’t require a lot of information. You can also reach us at 505-836-5700.

Traditional Construction Loan

Contact one of our construction experts to discuss your situation and current rates

One-Time-Close Construction-to-Permanent Loan

Construction loan automatically converts to permanent financing once construction is completed
Qualify only once; you never have to re-qualify when construction is completed
Only one closing
Construction rate is interest-only
Permanent 30 year rate is locked in at beginning of construction with “free float down option”
(you can lock in a lower rate if the rate drops before the construction is completed) Up to 80% loan to value
Allows you to buy the land with construction loan
Rehab loans are available for big remodels. The future appraised value is used to determine loan to value ratio

Construction Supporting Documents