Help borrowers save time and money with One-Close Construction Pro™, offering borrowers long-term financing opportunities for building their dream home.
One-Close Construction Pro allows:
- A construction phase up to 18 months, during which borrowers may make interest-only payments
- Financing borrower-paid premiums: up to 18 months of monthly premiums, a single premium or the up-front portion of a split premium
- When borrowers finance monthly MI premiums, MI coverage must be activated at loan closing. Contact your MGIC representative if you would like to finance monthly premiums
- For mortgage insurance purposes, do not include any financed MI premium amount in the LTV calculation
- Loan amounts to $1.5 million
One-Close Construction Pro can help your borrowers:
- Put less money down when building their home
- Remove the worry, cost and time of a second loan closing
- Keep payments low during the construction period
Explore our other Portfolio Playbook products
Portfolio Playbook™ and One-Close Construction Pro™ are MGIC trademarks.