Construction Loans - Ruoff Home Mortgage

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ONE-TIME | TWO-TIME CLOSE CONSTRUCTION

If you are ready to start building the home of your dreams, Ruoff Home Mortgage has the perfect construction loan programs for your unique needs! We have put together a checklist for you to help decide what program best fits your homeownership goals.

Take comfort in knowing that our in-house New Construction Department works closely with area builders and we have a simple draw procedure to ensure that your project budget remains on track as your dream home becomes reality.

ONE-TIME CLOSE CONSTRUCTION

Combines your construction financing and permanent financing
Interest rate locked before ground breaking
You can review and possibly lower your interestrate if thmarket has improved by the time your home is complete
Finance options on both purchase of the land and new home construction
Often one approval process and one set of closing costs
Minimum 10% down payment
Interest-only payments during construction period
Fixed rate permanent financing terms of 15 or 30 years
Loan amounts up to $453,100
Flexibility of a 6-month or 9-month construction loan term
Available for primary residences
Stability, Flexibility, and Convenience

TWO-TIME CLOSE CONSTRUCTION

Great for those wanting assistance with budget and a variety of loan programs
Competitive extended rate lock options
Interest rate will be determined with market at time of completion
Finance options on both purchase of the land and new home construction
5% down payment due at construction closing but can be reimbursed when build is complete
Interest-only payments during construction period
You can choose any mortgage product and term for end loan
No maximum loan amount for qualified candidates
Up to 12-month construction loan term
Available for primary residences
Stability, Flexibility, and Convenience

Let Ruoff Home Mortgage help construct the perfect financing option for your new home.

Clark Sexton
VP, Branch Manager
NMLS: 30906
734.564.3530
clark@ruoff.com
www.ruoff.com/clarksexton

Ruoff Mortgage Company, Inc., d/b/a Ruoff Home Mortgage, is an Indiana corporation licensed by the Indiana Department of Financial Institutions (DFI) and operates with the following licenses: Ohio Residential Mortgage Lending Act Certificate of Registration #MBMB.850220.000This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. Loan inquiries and applications in states where a Loan Officer is not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. 06192018

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