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Construction 2 Perm
Our OTC loan is a true One-Time-Close Log Home mortgage. We call it the Clear Choice Timber Loan. Financing for the lot, log home or timber construction, and permanent log home loan happens at one closing with one set of closing costs. During the construction phase, unlimited draws are made directly to the log home builder based upon work completed. Interest only payments are financed into your loan, so you can build your dream home worry free. The money used to complete the log home converts to a permanent loan for $0 and if any is left over you have the choice to take the balance in cash.
To Send Us an Application - Click Here
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Clear Choice Hybrid
Our Clear Choice Timber Loan also allows you to finish working on your Log Home. If you have a friend or relative with home construction experience and want to put sweat equity into the build, this timber loan is for you. You pick the construction supervisor and they provide a resume. They can dry-in the logs and you can finish the features inside the log home. With this facet, you get to do as much or as little as you want. This allows you to save money on your log home build while having the peace of mind that your project is on schedule.
To Send Us an Application - Click Here
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Owner - Builder
The Clear Choice Owner Builder Program allows you to get your hands dirty during the construction of your new log home. You are involved in every aspect of the build including design, budgeting, financing, obtaining permits, scheduling the work, making payments and actually managing the construction project.
To Send Us an Application - Click Here
Video of Log Home Construction
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Clear Choice Purchase
No plans, No specs, No builder, No problem …This program allow you to purchase your lot, secure your construction funds, and put your log home build off for up to 6 months. If you have found your land but not your home this is the loan you need.
To Send Us an Application - Click Here
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Clear Choice Equity option
Often, the equity in your current residence is the money you plan to use for your down payment. With most log home mortgages, you cannot move forward with log construction because your current home is not sold. Our Clear Choice Purchase option allows you to use the equity in your existing residence, toward the purchase of your new log home, all in a single transaction. A first lien is placed on the new property and a first or second lien is placed on the existing property. When your log home construction is complete, sell your existing property, and presto your equity has been swapped.
All Clear Choice Timber Loans includes following:
• A single lender is used throughout the process.
• There may be local and federal tax advantages of
a single step loan.
• Closing costs duplication is eliminated.
• The interest rate during construction and the
permanent loan rate can be locked.
• Float down option gives the borrower the power to
lock a lower rate after construction is completed if
rates are better.
• Builder is funded up to 10% to begin construction
at the closing table.
• Builder paid for lot at the closing table (lot is paid
off at closing)
• 24 hour 7 day per week draw request.
• Funds usually wired into the builders’ bank account
within 48 hours.
• 100% of LOG HOME PACKAGE PAID ON
DELIVERY.
- Submit Application
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| Clear Choice Timber Loan:
This loan is called an OTC or 'one time close loan’. |
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