New Construction Loans
We offer 2 types of construction loans which include:
1. New Construction Loan
- Do not own land at the time of Loan Application, looking to buy land & build your home on top of it
- Minimum 89.99% Loan to Value Ratio (LTV) required
- Minimum Fico Score of 720
2. Construction - Permanent Loan
- Own land already & looking to add your home onto it
- Minimum 70% Loan to Value Ratio (LTV) Required
- Minimum Fico Score of 700
These Loans Include:
- 9 or 12 months Construction periods
- Interest only payments during the Construction periods
Eligible Properties Include:
- 1 - Unit Site Built Homes
- Planned Unit development (PUD)
- Site Condo's
- Rural Properties
- Properties where Construction has already begun