Program Details

  • 680 minimum credit score

  • 0% down for VA Loans up to $1,500,000

  • 3.5% down for FHA Loans up to $541,287 (some counties have higher FHA loan limits)

  • 5% down for Conforming Loans up to $850,000

  • 10% down with a loan amount between $850,001 and $1,000,000

  • 15% down with a loan amount between $1,000,001 and $1,500,000

  • Primary Residence and Second Homes Only

  • You can include the land purchase in the construction loan if not already owned.

  • Land already owned will be used as equity for the total project cost.

  • Renovation loans available (this can also include adding an ADU)

  • Up to 18 month Build periods

  • 15 & 30 Year Fixed or Adjustable Rate Mortgages (3/6 and 5/6)

  • One-time closing automatically converts to permanent financing at the end of construction with a free rate float down (as applicable)

  • Interest-only payments during construction on Conventional and Jumbo, borrower does not pay payments during construction on FHA or VA loans.

  • Manufactured and Modular homes are allowed

  • We provide a builder evaluation at no cost to you

  • 10 acres or less (possible exceptions on a case by case basis)

  • No PrePayment Penalty

     

    Unallowable:
  • No Owner/Builder

  • No Pre-Starts

Construction loans are different animals. They have distinct rules and qualifying criteria. No feeling is worse than not qualifying for the loan. Especially after you are committed to a lot, it makes for a terrible day and a big mess. All of the loan officers listed on this site specialize in Construction Loans ONLY. They are battle-tested, seasoned, and recommended by your peers. Give them a call!

Do you want a Construction Loan Specialist to contact you? We’ve made it easy. Drop your name and phone number in the form on this page, and We’ll let her know you’re looking for her.

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