Market Overview

Texas Construction Home Loans Added to Georgetown Mortgage Bank's Services


Georgetown Mortgage Bank is offering one-time close construction loans for homes being built within a 130-mile radius of San Antonio.

Georgetown, Texas (PRWEB) October 30, 2012

Georgetown Mortgage Bank announces the addition of one-time close Texas home construction loans to its lineup of mortgage offerings.

These home construction loans are offered for homes being built within a 130-mile radius of San Antonio, Texas, which includes Austin, Kerrville, New Braunfels, Round Rock, Seguin and Victoria, Texas.

Typically, banks that offer construction loans offer a two-time close construction loan, which means that customers have to pay closing costs twice: once when receiving the construction loan and once when receiving a permanent loan.

With Georgetown Mortgage Bank's one-time close construction loan, though, customers are saved the time, stress and money that comes with closing a large loan twice.

The construction loans can also be subsidized through other loan programs, such as a USDA loan or a VA loan, so those looking to build a home can do so with little to no money down.

“By offering a one-time close construction loan, we make it to where our customers don't have to come back to the office for another closing,” said Danny Reyna, a Georgetown Mortgage Bank loan originator. “It's a relief for many of our customers to be finished with the mortgage process before construction even begins.”

Unlike traditional construction loans, where customers must put down 20 percent of the loan value, these one-time close construction loans also benefit customers by only requiring the down payment typical of the permanent loan.

About Georgetown Mortgage Bank

Georgetown Mortgage Bank is a full-service mortgage bank in Georgetown, Texas. The bank provides home mortgages, refinances, construction loans and reverse mortgages to people across the state of Texas. Georgetown Mortgage Bank aims to find the best mortgage solutions for its clients through the guidance of a personal loan consultant who works with the customer from beginning to end of the mortgage process. Although Georgetown Mortgage Bank offers big bank products and services, its consultants pride themselves on offering the friendly service of a local bank. To learn more about the bank's loan programs, click here.

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