[Saint Louis, 3/14/2018] – Top Flite Financial, Inc., one of the leading mortgage companies in St. Louis, Missouri offers one-time close construction loans. These loans are ideal for borrowers planning to have a manufactured house, stick-built home, or modular home.

No Need to Qualify Twice

With Top Flite Financial, Inc.’s one-time close construction loan program, the construction financing, housing mortgage, and permanent loan are all wrapped up into one loan. This means there is no need for the borrower to qualify twice. This is unlike other types of construction loans, in which the borrower applies once to get the construction funds and then applies again for the mortgage itself.

Permanent Loan is Closed Before Construction Begins

Typically, the borrower obtains the permanent financing after the completion of the project. The permanent loan is necessary to repay the short-term, non-permanent construction loan. But in Top Flite Financial, Inc., the permanent loan is closed before construction begins. So, the building project starts right away. Plus, there is no need for the borrower to get re-qualified for the permanent financing part of the loan.

Other Benefits of a One-Time Construction Loan

Besides its easier and more convenient application process, the one-time construction loan comes with many other benefits, including:

• Lower total loan cost due to only one closing
• Reduced interest rate risk
• FHA 86.5 LTV financing is allowed
• No payments due from the borrower during construction
• Borrower’s first repayment begins once construction is complete
• No document, appraisal, or credit expiration once the loan closes

Top Flite Financial, Inc. has a team of loan professionals that are experienced in assisting borrowers applying for construction loans. The company also provides pre-qualification, a process whereby one of its loan officers takes information from the borrower, assesses those details, and estimates the amount of construction loan the lender or bank will likely approve.

About Top Flite Financial, Inc.

Top Flite Financial, Inc. is a premier mortgage lender based in St. Louis, Missouri. The company provides customized mortgage solutions for clients across the country. It also has a team of loan specialists committed to helping clients find the most suitable loan option for their needs.

To know more about Top Flite Financial, Inc. and its loan products, visit https://www.topflitestl.com/.