Waterstone Mortgage Updates Its Single Loan Close Construction Program – NMP Skip to main content

Waterstone Mortgage Updates Its Single Loan Close Construction Program

Dec 03, 2018
Waterstone Mortgage Corporation has named Richard Tobias as controller at its Pewaukee, Wis.-based corporate office

Waterstone Mortgage Corporation has announced an update to its Single Loan Close Construction Program which now offers 95 percent LTV, allowing borrowers to build a home with just five percent down.
 
The Single Loan Close Construction Program, which Waterstone Mortgage introduced in 2017, is a single loan that covers the entire cost of the lot, construction and the mortgage. Now, the Single Loan Close Construction Program offers the same streamlined process, but with an added bonus of 95 percent LTV, meaning 95 percent of the loan can be financed and the borrower is only responsible for a five percent downpayment.
 
“To be able to build your dream home with only five percent down, let alone one loan to cover the entire process, is relatively unheard of in the mortgage industry. This cutting-edge program is truly a one-time close, and we’re thrilled to provide our borrowers with such a simple, convenient process,” said Kim Newby, SVP–Investor Relations and Product Development for Waterstone Mortgage. “Building a home is a major investment for any homeowner, so we aim to make the lending process as seamless as possible.”

 
 
About the author
Published
Dec 03, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026