How does it work?
1. Call or Apply Online to get assigned to your dedicated Loan Officer who will guide you through the process of securing land and/or a builder depending on where you are at in the process.
2. Complete your loan application to find out what loan options you qualify for today.
3. With your help, your loan will close within 30 days of receiving your complete Document Checklist.
I don’t have land yet, can I still move forward?
A: Absolutely! Our network of realtors can help you select your lot and we will close on both the lot and your construction loan at the same time, in a single closing!
I own my own lot but do not have the down payment saved up for a construciton loan yet, can I still move forward?
A. Yes! We can apply the value of the lot towards the down payment and/or the closing costs.
How long does it take to close on a construction loan?
A: Approximately the same amount of time it takes to close a normal purchase transaction, which is typically 30 to 40 days depending on circumstances surrounding the lot and appraisal process.
What type of loans does this program work with?
A: The Construction-Perm Program works with FHA, VA, USDA, and Conventional. Certain programs allow modular and manufactured financing as well!
What are the minimum down payment requirements for these loan programs?
A: USDA 0%, VA 0%, FHA 3.5%, and Conventional 5%.