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One-Close Construction Pro

Break new ground: Make building a home easier.

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

Resources

Overview

Product description

Explore our other Portfolio Playbook products

Portfolio Playbook™ and One-Close Construction Pro™ are MGIC trademarks.

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