At Supreme Lending, we’re proud to now offer Two-Time Close Construction Loans, also known as Interim Construction Loans, to help give our clients greater flexibility, control, and customization when building a home from the ground up.
What Is a Two-Time Close Construction Loan?
A Two-Time Close Construction Loan is a financing structure where you take out two separate loans:
- Interim Construction Loan: This short-term loan is used to finance the actual construction of your home. It typically features interest-only payments during the build process.
- Permanent Mortgage Loan: Once your home is complete, you apply separately for a traditional mortgage that replaces the construction loan. This becomes your long-term financing.
Unlike a One-Time Close — which wraps both loans into a single transaction — a Two-Time Close gives you more flexibility to shop for the best long-term mortgage once the build is complete.
Key Benefits of Two-Time Close Construction Loans
More Flexibility:
You can select your permanent financing terms after construction is finished — ideal if interest rates improve or your financial goals change.
Ideal for Custom or Complex Builds:
This option works well for unique home designs or projects that need extra time, customization, or coordination with builders.
Low Down Payment Options:
- 5% down for primary residences
- 20% down for second homes
- 25% down for investment properties
- Jumbo loan options available up to $1.5 million
Lot Equity Can Be Used:
If you already own the lot or have equity in the land, that value may be applied toward your down payment and overall financing strategy.
Interest-Only During Construction:
Manageable monthly payments while your home is being built.
Who Should Consider a Two-Time Close?
Two-Time Close Construction Loans are a great fit for:
- Borrowers building custom homes on their own land
- Buyers working with independent builders
- Homeowners who want more time and flexibility to secure long-term financing
- Clients purchasing second homes or investment properties
If you’re working with a builder or planning a detailed project with lots of moving parts, a Two-Time Close loan can help you stay in control while still getting the financing you need.
Ready to Build?
Supreme Lending is here to guide you through every step — from construction to closing. With personalized service, builder-friendly options, and flexible loan programs, we’re helping families across the country Enrich Their Lives, One Home at a Time.
Connect with a Supreme Lending Dallas-Fort Woth Loan officer today to learn if a Two-Time Close Construction Loan is right for your project.
Disclaimer:
All loans are subject to credit approval and program guidelines. Loan terms and availability may vary by state. The information provided is for general informational purposes only and should not be construed as financial advice. Contact your Supreme Lending loan officer for specific eligibility and qualification requirements