Construction Loan

Conventional Construction Loans 
  • 1 Unit SFR Primary Residence or 2nd/Vacation Homes
  • 90% LTV with 680 FICO on Primary Residence and 2nd Homes
  • 95% LTV with 720 FICO on Primary Residence
  • Construction Periods of 180, 270, or 360 days
  • Site-Built or Modular Construction – No Manufactured Homes
  • No Payments during Construction (except interest on funds drawn)
  •  Turnkey Contracts Only – Builder is responsible for 100% of project
  • Land acquisition and Soft Costs can be included in the loan
  • Interest Reserve can be set up to pay Interest during Construction with Lot Equity on Refis
FHA, VA, & USDA Construction Loans 
  • 96.5% LTV on FHA Loans with a 620 Minimum FICO
  • 100% LTV on VA Loans with a 620 Minimum FICO
  • 100% LTV on USDA Loans with a 650 Minimum FICO
  • Site-Built, Manufactured, and Modular Homes are eligible Double-wide Homes are eligible (No single-wide)
  • Construction Periods of 120, 180, or 270 days
  •  Borrower makes No Payments during Construction
  • First Payment starts AFTER Construction is complete
  •  Borrowers do not have to re-qualify after Construction is complete
  • Land Acquisition and Soft Costs can be included in the Loan
Fannie HomeStyle® Renovation Loans 
  • Renovation of an Existing Property Only 97% LTV on 1 unit Primary Residence with 680 FICO
  • 85% LTV on 2 unit Primary Residence with 680 FICO
  • 75% LTV on 3 & 4 unit Primary Residence with 680 FICO
  • 85% LTV on Non Owner Occupied 1 unit with 680 FICO
  • No Manufactured Homes Construction Period: 180 days to complete renovation
  • First Payment starts at Loan Closing with Full PITI
  • Construction Funds are placed in Escrow after closing
  • Closing Costs and Soft Costs can be Financed on Refis