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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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