We are excited to announce the addition of a Construction to Permanent loan that only requires one closing.
This is available for stick-built, modular, and manufactured properties. You can finance the construction, lot purchase, and permanent mortgage all with a single loan. And because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower simplifying the construction and permanent process.
Program Highlights
– No payments due from borrower during construction
– No re-qualification once construction is complete
– Single closing reduces total costs
– Realtor commission generally paid in full at closing (prior to construction commencing)
Eligible Terms & Property Types
– New multi-wide manufactured housing, modular housing, 1-unit stick-built housing
– FHA: 15- and 30-year fully amortized fixed
– USDA: 30-year fully amortized fixed
– VA: 15- and 30-year fully amortized fixed
Financing Eligibility
– 620 minimum qualifying credit score
– FHA: 96.5% maximum loan to value
– USDA: 100% of market value
– VA: 100% maximum loan to value not including VA funding fee
For more information you can reach us through the contact form or by giving us a call. We look forward to assisting you!
