Loan Options
Construction-to-Permanent
Loans
Build with Confidence
Our construction lending professionals will inspect completed work at set intervals and release funds to the builder as progress is made. This is done by utilizing an interest-only line of credit during the construction process, providing you the option to select your permanent loan now or later. Your payment during construction will be based on the outstanding loan balance. Our programs allow for up to 12 months of build time with possible extensions depending upon the loan type you choose.
We offer several types of construction and renovation loans to meet your needs. You can choose from our One Time or Two Time Close program depending on the type and scope of your project.
New: One-Time Close 15-Year & 30-Year Fixed Rate
If you’re worried about interest rate changes while your home is being built, we now offer a 15-year and 30-year fixed rate options on our one-time close construction-to-permanent mortgage program.
One-Time Close
GMM’s One Time Close is available for New Construction and Renovation projects. This program offers you the benefit of closing on your permanent mortgage financing and securing the interest rate terms during the construction process of your home. Your permanent mortgage loan will be a 6/1 Adjustable Rate Mortgage (ARM) or our newly added options of a 15-year or 30-year fixed rate mortgage.
Two Time Close
GMM’s Two Time Close is available for New Construction and Renovation projects. This program offers you the benefit of financing the construction costs using our temporary line of credit with up to 12 months to complete the project. Additional construction time, with an extension fee, may be available depending on your project. As construction nears completion, work with us to select either a fixed or adjustable rate permanent loan to meet your needs.
Benefits:
- Trusted by Custom Home Builders
- Experienced, Dedicated Construction Lending Department
- Options to fit your custom home needs
- All in-house operations
Get Started on Your Journey Home
Knowledge Base
Why Slowing Home Price Appreciation Is Good For Buyers And Sellers
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Home Inspections
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10 Homebuying Terms Everyone Should Know
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What Is Commonly Negotiated When Buying A Home?
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7 Ways to Stand Out as a Potential Homebuyer
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Virginia Housing Update
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5 Tips for Making an Offer on a Home
In today’s market, it’s important to make a competitive offer once you’ve found the right home. You’ll want to stand out from other interested buyers and …
Get Your Cash Back
Paying cash for a home has benefits. Take advantage of being a cash buyer to give the seller confidence the transaction will close quickly and …
The Lowdown on Down Payments & Mortgage Insurance
The 20% Down Payment Myth Many first time home buyers believe they must put 20 percent down on a home. But that is far from …
9 Tips for Purchasing Your First Home
Beginning the home buying process can be a very exciting, yet nerve-wracking experience for anyone starting off. These tips will help answer some questions to …
Home Improvement Projects with the Best ROI
Whether you’ve purchased a fixer-upper or are thinking about selling your home in the near future, it’s important to determine which renovations or upgrades can add value to your property.
A Robust Housing Market For Years To Come
Two questions continue to be asked of me. The first is, should I worry about rising prices and wait for the market to slow? The …
Homebuyer Options
Low Down Payment Programs & Grants George Mason Mortgage has the program options to fit your story and our experienced mortgage professionals will help find …
Moving Checklist
Take the stress out of moving with this checklist. Here is a list of essential tasks as well as the ideal times to conduct them. …
ICE Mortgage Technology Case Study
In an effort to improve the mortgage lending experience, Fannie Mae and Freddie Mae required significant changes to the Uniform Residential Loan Application (URLA) used …
Refinancing 101
Rates have hit an all-time low and have left homeowners scrambling to refinance their mortgages. You have most likely heard in casual conversations with friends …
Your Journey Home
Knowing the path will travel together helps the journey go more smoothly. We have outlined some important highlights so you know what to expect along …
Homebuyer Tips
Our goal is to make your home buying experience as smooth as possible. We have highlighted some best practices to help keep your finances in …
Getting Started
Whether you are buying your first home, right-sizing now that the kids are gone, navigating the jumbo luxury market, renovating your home, or working with …
Choosing The Right Down Payment
A down payment is the amount you pay toward the home yourself. You put a percentage of the home’s value down and borrow the rest …
Built Just For You
NEW CONSTRUCTION, CUSTOM HOME & RENOVATION HOME LOANS Our extensive knowledge of the new construction and renovation loan market allows us to offer a wide …
Finding The Right Mortgage
There are many different types of home loans available. The one that’s best for you will depend on your personal financial situation and homeownership goals. …
Know Your Credit Score
When applying for a mortgage loan, your credit score will be one of the key factors in whether you’re approved and it will help determine …
Refinance & Renovate
If you are having a difficult time finding a new home with limited inventory in today’s market, have you considered renovating your current home? We …