![]() Westerra Credit Union has launched a groundbreaking financing program that streamlines loans for new home construction or renovation projects. The “One-Time Close Construction-to-Permanent Loan” is a hassle-free solution for homeowners who, traditionally, faced the daunting task of securing separate loans for construction and permanent financing. With this unique loan program, members benefit from a simple, efficient and cost-effective financing experience. During the construction period, which typically lasts between 12 to 18 months, the One-Time Close Construction-to-Permanent Loan operates on an interest-only structure. This allows homeowners to save money by only paying interest on the amount used during construction. After completion, the loan smoothly converts to permanent financing (subject to Westerra's underwriting requirements). “Our One-Time Close Construction-to-Permanent Loan is a testament to helping our members’ dream homes come to life,” said Jeff White, Westerra's Director of Mortgage Development and Sales. “We take pride in being a local credit union, which gives us an understanding of the market, and the needs of our members compared to larger banks that process loans out of other regions." Key benefits of Westerra's One-Time Close Construction-to-Permanent Loan include:
For more information about Westerra Credit Union's One-Time Close Construction-to-Permanent Loan, schedule an appointment with a mortgage loan officer or visit westerracu.com/borrowing/homes to learn more.
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Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
February 2025
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