Q: I DON’T HAVE A LOT 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!
Q: 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.
Q: 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.
Q: 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%.