Whether you're
planning to build your dream home or just thinking about it, I can
help. I can answer your questions, and guide you through the loan process.
I'll be with you every step of the way from picking a floor plan to turning
the key. I can answer your questions and your builder's questions so your
project keeps moving smoothly from ground breaking to house warming. My Construction-to-Permanent Loan is based on ordering an appraisal based on the
future value of the home. That's right I said future appraised value of your
home. I can lend 95% of the future appraised value of a primary or a second
home. The construction loan to value is based on the actual cost which can
include the purchase of the land. If you already own your land
you can very easily be able to close your construction loan without any
money at the closing table
!
I can offer new construction loans on the following property types:
Primary Homes
Second Homes
Investment Properties
Modular Homes
Spec. Homes for Builders
Complete Rehabilitation
With my One Time
Close loan, you can combine the closings of the Land Purchase, Construction
Cost, and your permanent financing all into One closing, saving you
thousands
! Based on the project, if it has enough value, we can finance your land and wrap your closing cost into your construction loan up front. Below you will find the list of Primary Items you will need to get your construction loan started.
Land or an Offer to Purchase Land
Contract with Builder
Blueprints and Survey
All Applicable Soil/
Perk Tests
Terms of the construction loan are for
6 to 18 month periods. This loan program offers interest only payments
during the construction phase on only the amount drawn. Also, we can
finance the monthly payments into the loan for you so you don't
have a payment at all during construction . Our construction loans have a standard 5% contingency
reserve built in as well. Call me and I will guide you through this
seemingly overwhelming process.
