Build Your Dream Home Today
Welcome to BaseLine Capital
Break Ground With Us
Design, get FHA financing and construct a new home for your family from ground up.
The thought of qualifying for a loan, affording the down payment, closing cost fees and designing a new home can be overwhelming. BaseLine Capital makes the process easier for you. We'll be with you every step of the way to ensure that the house we're building matches your vision. We will be on the job site with you. You hired BaseLine Capital to make your dream home a reality, we will personally be overseeing every aspect in the process.
Let us know about your budget, and we'll help you choose the construction options that fit it best. You can count on us to find the most affordable materials and styles that meet your specifications.
Our Services
At BaseLine Capital we believe that everyone deserves affordable home ownership.
Our business model is built on a simple, our team will guide you from application through project completion. Our All-in-One Custom Construction Loan offers short-term construction and permanent financing, conveniently rolled into one loan. That’s why we give our customers the ability to choose - from homesite to elevation, from floor plan to design options - and a buying experience that’s personalized from end-to-end. Contact us today to learn more about our services and to schedule a consultation.
One Time Close Construction Loan.
Everything you need to know about the one time close Construction loan.
Many people dream of home ownership, but with limited home inventories and a competitive real estate market in southern California, some residents have turned to buying land and building a home that meets their specific needs. However, it can be hard for buyers to know the best way to pay for construction costs, their plot of land, and the home mortgage.
One-time-close construction loans are a great way to secure the financing needed for every aspect of your property purchase and new home construction. Learn how these loans work, the benefits they offer, and how BaseLine Capital can partner with you and make the dream of affordable home ownership a reality.
What Are One-Time-Close Construction Loans?
One-time-close construction loan, also known as construction to permanent loan. They are residential loans that allow borrowers to combine financing for the lot, construction project, and permanent mortgage into a single loan. The result is a streamlined loan program that simplifies the home buying process and ensures a more stable transition from closing to construction to home ownership.
Four benefits of One Time Construction Loan
1. Single Qualification for Borrowers
The most important reason to choose a one-time-close construction loan is that borrowers only have to complete a single qualification process for their home financing. Instead of applying for multiple loans and going through several qualification processes, you only have to complete a single qualification, appraisal, and closing process, saving significant time and resources.
This is an important benefit because borrowers don’t have to stress about not qualifying later for their mini-permanent mortgage once construction has started. Locking down a mini-permanent loan in advance will allow you to make financial decisions on large purchases such as furnishings or appliances.
2. Fixed Interest Rates
One-time-close construction loans provide for a fixed interest rate throughout the length of the project and mini-permanent mortgage, which should give you some peace of mind.
In addition, most one-time-close construction loans are structured to allow borrowers to pay interest only while the home is under construction. Once construction is complete, the loan terms change to a mini-permanent financing structure where the borrower begins paying both principal and interest.
3. Lower Closing Costs
An added benefit of a single close loan is that borrowers only have to complete one closing process, resulting in lower closing costs out of pocket. This can provide tremendous savings for homeowners.
Comparatively, borrowers who finance construction projects and their mini-permanent mortgage separately may end up having to pay double the closing costs. They might also have to endure a more stressful home buying experience. That’s why we recommend a one-time-close construction loan because it offers simplicity and money savings for buyers compared to handling each step under separate contracts.
4. Reduced Risk
Finally, one-time-close construction loans provide much less risk to borrowers since the single contract provides stability and constancy throughout the entirety of the process. Borrowers will appreciate steady financing throughout the entire construction project, and there are no hidden costs or surprises at closing.
One-time-close construction loans are some of the most effective loan products a potential borrower can choose from because of the flexibility and ease throughout the entire construction and purchasing process.
Apply Today for a One-Time-Close Construction Loan
Borrowers will need to provide personal, financial, and construction builder information along with the following:
- Personal tax returns
- Proof of income
- Statement of existing debts
- Statement of current assets
- Property information
- General Contractor or builder information
- Construction plans and timelines
Everything you need to know about the one time close Construction loan.
Many people dream of home ownership, but with limited home inventories and a competitive real estate market in southern California, some residents have turned to buying land and building a home that meets their specific needs. However, it can be hard for buyers to know the best way to pay for construction costs, their plot of land, and the home mortgage.
One-time-close construction loans are a great way to secure the financing needed for every aspect of your property purchase and new home construction. Learn how these loans work, the benefits they offer, and how BaseLine Capital can partner with you and make the dream of affordable home ownership a reality.