NEW CONSTRUCTION | RENOVATION | BRIDGE LOANS
If you are looking to build a custom home or make renovations, let George Mason Mortgage help that dream become a reality. With our extensive knowledge of construction and renovations financing, we can find the right product to fit your needs at a competitive price and provide you the award winning customer service GMM has become known for.
Home Construction Lending
GMM has financing options that allow you to finance your lot/property acquisition and demolition through the completion of your new home’s construction. The One-Time Close Construction program offers you the benefit of closing on your permanent mortgage and securing the interest rate and terms during the construction period. You have several loan term options to choose from and up to 12 months to complete construction.
Long-Term Rate Locks*
It could be several months or more before your new home is move-in ready. We offer financing options with flexible rate lock options that allow you to lock in your interest rate for up to 270 days with the ability to float down to a lower rate one time at least 10 days prior to closing1 if the rates go down.
A renovation loan allows you to purchase a new home or refinance your existing home to finance a wide range of home improvements or add-ons. Renovate your primary residence, vacation home or an investment property.
Bridge financing provides temporary financing that enables you to access the equity in your current home before it is sold to help with the purchase of a new home.
*The Extended Rate Protection will vary based upon the length of lock and requires a deposit at application which is applicable to closing costs. The Extended Rate Protection feature is not available under all programs. 1.The applicant may renegotiate their interest rate one time at least 10 days prior to settlement if rates improve by at least .25%. Additional terms and conditions may apply.