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Thinking of building your own home with only 3.5% Down? Construction Loan

July 28th, 2015

Thinking about constructing your own home but think it's too expensive?  Think again, for Veterans it's Zero Down and included the land and construction, for Fha only 3.5% Down payment included the land and construction as well - no payments during construction until the home is completed:

Why worry about re-qualifying or incurring additional costs? Designed for manufactured, modular, and stick built housing, this program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower, simplifying the construction and purchase process.

PROGRAM BENEFITS

Up to 96.5% LTV through FHA or 100% LTV through VA (not

including the funding fee)

No payments due from borrower during construction

No re-qualification once construction is complete

Single closing reduces total costs

FINANCING ELIGIBILITY

Available through FHA and VA

620 minimum qualifying credit score

15 and 30 Year Fixed Rates available

1 Unit Single Family Residences, Doublewide and Triplewide

Manufactured Homes and Modular Homes permitted

Restrictions apply - 640 Fico minimum required and please call on me for more details.