Have you been told by another lender that the VA and FHA construction loans don’t exist? Don’t believe them. In addition to Conventional construction loans we also offer these government construction loans! These are single close construction loans that act as both your construction loan and your end loan. No need to qualify a 2nd time, get a 2nd appraisal or pay a 2nd set of closing fees like some other programs.
Take a look around the website and feel free to email me for a personal consultation. I will match you with the best program, from the best lender, for your project.
With over 25 years experiance I will close your loan quickly. Construction lending is the “deep end” of the mortgage pool. The vast majority of mortgage loan officers have never done a construction loan. It’s vital that you know who’s in charge of you application and that they have the experience to close your loan quickly .
Do you already own your land? You may be able to use your land equity to cover your down payment and roll in your closing costs! You can building a site built, manufactured or modular home. With the VA and FHA Construction Loan programs you have no payments until the home is completed. Your interim interest will be rolled into your contract to build.
On one side of my business I have clients that need money to buy, build or refinance their home. On the other side of my business I have multiple lenders. Each lender excels in one or more types of lending. It’s my job to match my borrowers up with the right lender.
What stands in the way? Guidelines, pages and pages and pages of guidelines. Minimum credit scores, maximum loan to value, source of funds, debt to income, debts that are part of the borrower DTI, debts that don’t have to be counted in the DTI, appraised values, home types that eligible for funding and those that are not, and it goes on and on and on. Their are hundreds, if not thousands of pages of guidelines.
A good loan officer asks a lot of questions upfront. That way we can set the proper expectations and put you in the right loan with the right lender.