ONE-TIME CLOSE CONSTRUCTION LOANS

RWM BuildSmart

Build your dream home with ease. RWM BuildSmart’s One-Time Close Construction Loan combines construction and permanent financing into one simple process, saving you time, money, and stress.

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What Is RWM BuildSmart?

RWM BuildSmart is your solution for a seamless construction-to-permanent financing experience, This program streamlines the process by offering a single loan that converts from a construction loan to a permanent mortgage upon completion, covering Conventional, FHA, VA, and USDA loan types.

Program Details

With RWM BuildSmart, finance your new home from start to finish with one convenient loan that combines construction and permanent mortgage, saving you time, money, and stress.

Financing Flexibility

RWM BuildSmart offers single-close loan products that cover Conventional, FHA, VA, and USDA loan types, with LTVs up to 100% and various options for paying interest during construction

Simplified Process

With a single-close loan, you can avoid the hassle of a second closing, saving you time and money.

Qualified Builders

All builders must be licensed and approved by RWM Home Loans, ensuring your home is constructed by an experienced and insured professional.

Works with FHA, VA, Conventional, and other loans

Our RWM BuildSmart works with FHA, VA, Conventional, and other loan options to fit your unique needs.

How It Works

Apply & Get Approved

Submit your application and choose from FHA, VA, USDA, or Conventional loan options. We’ll review your plans and approve your licensed builder.

Build Your Home

Funds are released in stages as construction progresses, and you only pay interest on the amount disbursed during the build.

Move In with One Loan

When construction is complete, your loan automatically converts to permanent financing—no second closing or extra paperwork.

Exploring Expanded Loan Options

Discover flexible and tailored financing solutions with expanded loan options designed to fit unique financial needs.

Bank Statement Loans: Mortgages that use bank statements to verify income, ideal for self-employed borrowers.

Asset Depletion Loans: Loans that calculate income based on liquid assets, useful for high-net-worth borrowers.

Hard Money Loans: Short-term, asset-based loans secured by property value, often used for real estate investments.

Commercial Loans: Loans designed for purchasing, refinancing, or developing commercial properties like offices or retail spaces.

DSCR (Debt-Service Coverage Ratio) Loans: Loans for real estate investors, qualified based on the property’s Debt Service Coverage Ratio (rental income vs. expenses).

Bridge Loans: Short-term loans that “bridge” the gap between buying a new property and selling an existing one.

Non-Warrantable Condos: Loans for condos that don’t meet conventional lending criteria, such as occupancy rates or financial reserves.

Foreign National Loans: Mortgages for non-U.S. citizens without U.S.-based credit history, often requiring larger down payments.

Cross Collateral Loans: Loans that use multiple properties as collateral to secure financing, common for investors or large transactions.

You might need an expanded loan solution
if you fall into any of these personas…

Self-employed individual

Provide bank statements, profit and loss statements, or asset depletion to demonstrate income and ability to repay.

Recent credit event

We often have more flexible waiting periods for credit events, allowing you to qualify sooner.

High net worth, low income

Asset-based lending is used, where assets like stocks or retirement funds are considered for loan qualification.

Investor with many properties

Consider a DSCR loan, which bases the loan qualification on the cash flow of the property being purchased, not personal income.

Out-of-country borrower

Rely on alternative documentation, such as international credit references, proof of foreign income, and a larger down payment.

Transitioning homeowner

Get a bridge loan, which provides the financial flexibility to transition smoothly, ensuring you don’t miss out on your ideal property.

Other unique financial situation

Don’t know what loan you need? Let us know so we can find an expanded loan solution that makes sense for you.

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RWM BuildSmart FAQ

What is a One-Time Close Construction Loan?

A One-Time Close (OTC) loan combines your construction financing and permanent mortgage into one loan, so you only have one application, one approval, and one closing.

Can I lock in my mortgage rate before construction is complete?

Yes, you can lock in your rate at the start of the process, which can protect you from rate increases during construction.

How long does the approval process take?

The timeline can vary, but having one application and one closing generally speeds up the process compared to separate loans.

Can I use BuildSmart for a custom-built home?

Yes, whether you’re working with a licensed builder on a custom home or a pre-designed plan, BuildSmart can finance your project.

Mortgage Lending Simplified

Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.

SECURE DOCUMENT SCANNER

FAST & EASY PROCESS

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RWM BuildSmart

What Is RWM BuildSmart?

Program Details