Cell 586-917-5534
Construction Loan Officer - NMLS #134090
Call Me Today!

586.917.5534

Construction Loan Officer

Jerry Thomas
Construction Loan Officer
Office: (248) 247-5582
Cell: (586) 917-5534
Equal Housing Lender

Cranbrook Loans
41800 Hayes Road
Clinton Twp. MI 48038
586-649-2600
NMLS #1221113

Programs and Locations

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

Conventional, Jumbo, FHA, VA and Rural Development Construction Loans. Have you been told by another lender that the FHA and VA don’t do construction loans? Don’t believe it, we’ve closed them. Take a look around the website and feel free to call or email for a personal consultation. We look forward to hearing from you. Call or email me if you have questions or wish to be pre-qualified.

What I Do

More Than 25 years Experience!

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.

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Loan Programs

1x close loans

Conventional 1x Close

This is the best program with the best rates and fees. One closing, one set of fees. You must have at least a 700 credit score with 20% down, 720 score with 10% down.

Construction Loans

Conventional 2x Close

 If you plan on being your own General Contractor, or doing some of the work yourself, this is the program you will have to work with. Two closings, two sets of fees. You will need at least 10% down, more likely 20% and a score in the 700’s.

Jumbo 1x Close

Now offering Jumbo 1x close construction to perm loans up to $3,000,000! 15% to 30% down, minimum 720 to 760 credit scores. Call for details.

FHA/VA/USDA 1x Close

If you don’t qualify for a conventional program these government programs can be the answer. They have lower down payments and lower credit score requirements, 620 minimum. Roll in the construction loan fees and interest during construction.

Rehab loans

Rehabilitation Loans

Rehab loans for short. These loans are for existing homes that need a little, or a lot, of work. The most widely known program is the FHA 203k program, the VA, Fannie and Freddie also offer these loans.