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 Available
For You
Construction
Loans Offer:
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Loans up to $5,000,000.
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No down payment construction loans (only in OK).
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Land/lot purchase funds included in construction loan.
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Maximum 90% loan to value (LTV).
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Up to 12 months to complete the construction of the home.
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No "out-of-pocket" interest payments during the construction period
and interest-only quarterly on funds as disbursed.
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Permanent financing with competitive rates for 15-year, 30-year, and
as low as 1.25% payment ARM products
- Full, alternate
and stated documentation loan programs.
Construction
Loans Qualifications and Requirements:
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Minimum 620 standard credit score as defined by lender.
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Ratios are maximum of 50%.
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Liquid assets: two (2) months PITI liquidity (401K, stocks, investment
accounts, bank accounts, etc. accepted).
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Home Plans (engineered plans - only if required), building agreement,
specifications, and Loan Budget prior to closing.
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Interest reserve and contingency funds must be included in the Loan
Budget.
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Construction must be completed in 12 months or less.
Construction
Loans With A Builder:
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NO down payment.
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Builder must be
licensed and approved by lender.
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Builder will
supply a signed building contract and construction budget with
customer.
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Lender must
approve construction budgets and home plans.
Land
Loan Features:
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Minimum 20% down payment.
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Terms: up to 5
years with interest-only payments.
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Land must be under
10 acres.
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Land must be
deemed zoned for single family residential construction.
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Additional
requirements exist.
Many Other Loan and Mortgage Programs Are Available:
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Remodeling loans
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Refinance loans
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Purchase loans
Go to Online Application Page
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