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 How are the funds the borrower brought to closing for the construction project utilized on one time close conventional construction loans?

The borrower’s funds are held in an interest-bearing account. The monthly accumulated interest will be applied to principal. When a draw is received these funds will be utilized first, prior to drawing on the loan. Once the borrower funds are depleted the loan proceeds will be utilized.

Security America Mortgage, Inc

Security America Mortgage is one of the leading VA Home Loan Lenders in the nation; We are not a government agency. We pride ourselves on providing excellent customer service to ensure that each Veteran we serve ends up living happily ever after in the home of their dreams. This is a private website that is not affiliated with the U.S. government, U.S. Armed Forces, or Department of Veteran Affairs. U.S. government agencies have not reviewed this information. This site is not connected with any government agency.

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