Construction-to-Perm Financing for Today's Market

Feb. 23, 2010 - PRLog -- On Monday, March 8th at 11:00 a.m. CST, Weststar Mortgage is offering the opportunity for home builders and realtors to take part in an informational meeting on the FHA One-Time Close. This little known nugget for the home building industry provides home builders a much needed solution to help keep them building during a time when traditional banks have stopped or limited credit lines and interim financing. Registration is currently open and can be completed by visiting www.closeitbuildit.com/onlineevents.

This informational session will guide home builders and realtors through the advantages of the FHA One-Time Close including interim financing, overcoming credit line and cash flow barriers in the construction process, low downpayment options for buyers, no cash investment options for buyers, land equity, the pool of buyers, the draw schedule, construction times, and more. During this session attendees will learn the distinctions of the one-time close, the benefits, and how FHA fits into the picture.

Interim financing has become increasingly concerning for many home builders and  for their buyers.  For home builders, the extension of credit lines for their construction projects isn't as simple as it was in years past.  In addition, home buyers are met head on with challenges including loan-to-values typically 80% or less, credit scores that exceed what is traditionally considered good credit, and reserve requirements that mandate six or more months.

Registration is required.

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Weststar Mortgage is a direct lender that specializes on tailoring solutions that traditional lenders and banks consider outside-the-box. Weststar is an FHA Direct Endorsed lender, and a leader in staged interim construction financing/warehouse lending.