Direct Line: 586.917.5534
Conventional FHA and VA
Construction Loan Programs!

586.917.5534

Jerry ThomasJerry Thomas
Construction Loan Officer
Cell: (586) 917-5534
NMLS #134090
GA- GRMA #56700
FL- L048618
MI- 134090
OH- MLO-OH 134090
PA- 101608
VA- MLO 39826 VA

 

Equal Opportunity Lender

Cranbrook Loans
41800 Hayes Road
Clinton Twp. MI 48038
NMLS #1221113

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    Jerry Thomas

    Jerry Thomas
    Construction Loan Officer
    Office: (248) 247-5582
    Cell: (586) 917-5534
    NMLS #134090
    GA- GRMA #56700
    FL- L048618
    MI- 134090
    PA- 101608
    OH- MLO-OH 134090
    VA- MLO 39826 VA

    Cranbrook Loans
    41800 Hayes Road
    Clinton Twp. MI 48038
    NMLS #1221113

    Learn More

    Complete the Form to Get Started




      I'm Interested in a...



      Conventional, VA & FHA Construction Loan Programs

      Licensed in Michigan, Ohio, Florida, Georgia, Virginia and Pennsylvania.

      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.

      I will be your single point of contact through the entire process. Other loan officers will had your application off to a group of processors handling dozens of applications.

      Take a look around the website and email me today for a free personal consultation and a fast pre-approval. 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. This can save you lots of time and money. We will discuss your land, the type of home you are building, the types of homes you can’t build and your qualifications.

      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.

      How I can Help?

      More Than 25 years Experience in Construction Lending!

      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. It my job to help you through this maze and get you the best deal.

      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. To learn more check out my blog on Active Rain, https://activerain.com/blogs/constructionloan

      Higher Loan Limits in 2023!

      Fannie and Freddie have all raised their maximum loan limits in 2023. The base maximum loan amount for conventional single family home loans will jump to $715,000 in 2023. Homes in High Cost areas are now capped at $1,073,000. FHA will most likely follow suit soon. Currently FHA is at $420,680 in most areas. In high cost areas FHA is now at $970,800.

      While the VA has no cap amount on their zero down programs, but most VA Construction Loan lenders have an overlay limiting zero down VA Construction loans to $715,000. Some VA Construction lenders will go over the $715,000, up to $1.5 Million. 

      Loan Programs

      Jerry Thomas 1x Close Construction Loan

      Conventional 1x Close

      5% down, 680 credit score. Loan amounts up to $715,000! Can be used for new construction or major renovation. 

      Construction Loans for Owner Builders

      Conventional 2x Close

       Plan on being your own General Contractor, this is the program you will have to work with. You will need at least 10% down and good credit scores.

      Jumbo Home Loan

      VA Jumbo 1x Close

      Need a VA Construction Loan over $715,000? I got that! Up to $1.5 Million! Some down payment may be required.

      New-construction-home

      FHA and VA 1x Close

      3.5% down for FHA, 0% down VA, and a 620 minimum credit score. You can even roll in the construction loan fee and interest during construction.

      Rehabilitation Loans

      Rehab Loans

      Looking to buy or refi a home that needs a little, or a lot, of work? Fannie, Freddie, FHA and VA all offer loans to help!