One Time Close New Construction Loan: Building Your Dream Home with UR TEAM Real Estate Services

Build Smarter, Not Harder: Introducing the UWM One Time Close Loan

At UR TEAM Real Estate Services, we know that for many homebuyers, the dream isn’t just finding the perfect home—it’s building it. New construction is your blank canvas, but the loan process for a custom build used to be a huge hassle: multiple closings, extra fees, construction headaches, and waiting, waiting, waiting.

That’s why we’re so excited to offer the UWM One Time Close New Construction Loan—a streamlined, super smart gateway to getting your dream home built and financed, all with a single closing. If you’re thinking about building, here’s everything you need to know.

What Is a One Time Close Construction Loan?

Let’s keep it simple. A traditional construction loan typically means two separate mortgage closings—one to fund the build, and another permanent mortgage when the home is done. That means double paperwork, double closing costs, and sometimes, double headaches.

The UWM One Time Close New Construction Loan tosses all that out the window. Instead, you get one mortgage, one closing, and a smooth transition from construction phase to permanent financing. The loan funds your builder as the home goes up, then automatically converts into your regular mortgage—right at move-in.

Highlights at a Glance

• Single closing for both construction and permanent financing
• Fixed and adjustable rate options (15- and 30-year fixed; 7- and 10-year ARMs)
• Up to 11 months of build time (plus a month flexibility if needed)
• Works for primary homes, vacation homes, and investments
• Loan amounts up to $3.5 million for jumbo buyers (credit score ≥660)
• Available for rate/term refinances and new builds alike

Why Homebuyers Love UWM’s One Time Close Loan

Streamlined Experience, Less Stress

No more separate closings, overlapping loans, or jumping through approval hoops every few months. One closing = less paperwork, fewer surprises, and a lot more peace of mind.

Fewer Fees, More Savings

Each mortgage closing comes with fees—lender fees, escrow, title, and so on. By rolling construction and permanent financing into a single transaction, you save serious cash up front.

Confidence in Your Builder

UWM doesn’t just hand out construction funds to anyone. Builders and general contractors are thoroughly vetted and approved before work begins, so you can feel confident about who’s swinging the hammer.

Flexible Terms for Today’s Market

Construction takes time. With up to 11 months plus an optional extension, this loan is tailor-made for real-world schedules. And whether you want a fixed interest rate that never changes or the initial savings of an ARM, you’ve got options.

The Building & Funding Timeline: How One Time Close Works

Here’s what it looks like when you build with UWM’s One Time Close New Construction Loan and UR TEAM guiding you:

1. Get Pre-Approved: Connect with UR TEAM, discuss your budget and project, and get your numbers set.
2. Select Your Builder: Choose from licensed, vetted builders who meet UWM’s strict approval process.
3. Appraisal & Plans: The house isn’t built yet, but a full appraisal is still required—subject to your blueprint and specs.
4. Close Once, Up Front: Sign your loan docs at the start. The construction phase begins with the money ready to flow directly to the builder in stages (called “draws”) as work gets done.
5. Construction Phase: UR TEAM checks in with your builder and UWM to monitor progress and handle inspections, paperwork, and payouts.
6. Move-In & Automatic Conversion: At completion, the loan simply switches to your regular mortgage rate and payment. No second application. No gap. You move in, stress-free!

Who Can Benefit from a One Time Close Loan?

• First-Time Homebuyers: Building can feel overwhelming without the right support. This loan keeps things straightforward and upfront.
• Homeowners "Locked In” by Low Rates: If you can’t find the right property in today’s tight market, new construction could be the solution.
• Investors and Vacation Home Buyers: Building a rental or your future getaway? This program works for you too, with competitive rates and flexible terms.
• Clients Who Value Simplicity: If you love easy processes and transparency, this is the construction loan that actually works for you, not against you.

Why New Construction? A Quick Market Reality Check

Inventory is low, bidding wars are the new normal, and first-time buyers in particular are facing a tough market competing for resale homes. Meanwhile, new home construction is holding strong—because buyers want new, and sometimes, it’s the only way to get exactly what you want.

For sellers sitting on super low rates, now is an optimal time to consider new construction, utilizing the One Time Close program to minimize risk and maximize opportunity. You can lock in your future home before committing to sell your current one, and enjoy a seamless mortgage experience.

Pro tip: Curious what’s available right now? Check out UR TEAM’s listings, including new home opportunities: Featured Home: 11139 Essex Ave, Montclair

What Do I Need to Qualify?

• Credit Score: 660+ for jumbo, typically a bit lower for conventional loans
• Down Payment: Varies, often 5-20% depending on loan type and project
• Builder Approval: Your builder/general contractor must pass UWM’s vetting process—so no unlicensed “uncle’s friend” contractors here
• Appraisal: Full appraisal based on your plans/specs and anticipated market value when construction is complete
• Documentation: Standard income, asset, and employment verification; less bureaucracy than most construction loans
• UR TEAM in Your Corner: You’ll have your own dedicated mortgage and real estate pros to keep things moving and demystify every step

Common Questions (and Straightforward Answers)

What is a loan “draw” and how does it work?

During construction, the builder gets paid in stages—called draws—based on progress. Funds are never released all at once. UR TEAM coordinates these draws with UWM and your builder to ensure transparency and timeline integrity.

Can I customize my home with this loan?

Absolutely! As long as your plans and builder meet program guidelines, you can personalize as much as your budget and local regulations allow.

When do I start mortgage payments?

Most borrowers pay interest-only during the construction phase, with full mortgage payments kicking in once the house is finished and you move in.

Why UR TEAM Real Estate Services?

Not all brokers or real estate agents are equipped to shepherd you through the construction and mortgage process. At UR TEAM, we handle new builds, negotiations with local builders, and loan navigation daily. We’re experts on the UWM platform, committed to keeping things supportive, transparent, and human—no matter how complex your dream project may get.

Ready to talk details or brainstorm your ideal home from the ground up?
Visit our website: https://urteaminc.com and start a conversation today.

Final Thoughts: One Closing, One Team, Endless Possibilities

The UWM One Time Close New Construction Loan takes the hassle and confusion out of building your home. With just a single closing, you save money, gain confidence, and enjoy a seamless journey from a blank lot to a home that’s all yours.

Ready to start your build—or just curious if you qualify? UR TEAM Real Estate Services is here to help, every step of the way.