Construction Loans

At Open House Mortgage Corporation, we offer a construction to permanent loan program that provides the convenience of a single closing. During the construction of your home, you make interest only payments on the amounts that you have drawn. You must complete the construction of the home within 12 months. At 12 months or upon completion of the home the loan converts from a construction to a permanent loan and your principal and interest payments begin.

We have a variety of programs including:  3/1 and 5/1 adjustable rate mortgages, 30 year and 15 year fixed rate loan options.

Whether you are building a new home, remodeling or expanding your current home, we can help you finance the home of your dreams.

A few highlights of our construction to permanent home loans:

  • Easy one-step financing takes care of everything you need, including both the construction and permanent mortgages. 
  • Lower interest only monthly payments during construction
  • After construction your loan converts to a permanent loan and your principal payments begin.
  • Available for owner-occupants, second home buyers and investors
  • Permanent Fixed Rate and Adjustable Rate Mortgages available
  • One-time closing 
  • Interest reserve payment option available 
  • No prepayment penalty 
  • Loans up to $4,000,000 for owner-occupants

Open House Mortgage Corporation

NMLS # 1794858

2121 W. Airport Freeway, Suite 550
Irving, Texas 75062

Phone: 800-674-7720

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TEXAS - SML MORTGAGE COMPANY DISCLOSURE
IN TEXAS - "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."