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.