You’re building your own home and want a flexible mortgage loan that easily converts to a conventional mortgage without having a second closing.
What It Offers:
- Choose from available fixed and adjustable rate construction loan programs
- For added flexibility you can make interest only payments during your construction period of up to 9 months
- To avoid a second closing and to save you money, your loan automatically converts after construction to principal and interest payments for the program initially selected
- Various point options available to lower your interest rate
- Up to 90% financing so you’ll have more funds available for furnishing and decorating your home
We do construction loans, and have a special program with great terms for apartment complexes and nursing homes where the loan amounts to over $2,000,000. Loans can be for new construction, re-financing, expansion, or acquisition. Construction and permanent financing are provided in one loan source!
- Minimum loan amount $500,000
- No limit on the maximum loan amount
- Maximum loan to value is 90% on some, 80% on most