Construction Loans - Phebe Ellis-Roach

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One-Time & Two-Time Options Available

CONVENTIONAL

Conforming loan amount
Max loan to value 95% with a minimum credit score of 680 (Primary Residence)
Primary or Secondary Home 1 unit SFD
No requalifying at modification within the 9 month construction term (Lender will verify employment at time of modification)

FHA

Loan amount per FHA county loan limit
Max loan to value 96.5%
15 & 30 year fixed rate option
Primary owner occupied 1 unit
Minimum credit score 600
No requalifying at modification

VA

Max loan to value 100%
15 & 30 year fixed rate option
Primary owner occupied 1 unit
Minimum credit score 600 (Subject to Veterans Eligibility)

UP TO 95% LTV

NO LENDER RETAINAGE
FLEXIBLE DRAW SCHEDULES
COMPETITIVE RATES AND FEES
CREDIT SCORES DOWN TO 600
NTEREST ONLY PAYMENTS DURING CONSTRUCTION
LOT EQUITY ACCEPTED FOR DOWN PAYMENT ON MOST PROGRAMS

TERMS FOR ALL PRODUCTS

Specialized underwriting and processing
Closing turn time within 30 days of receiving contract, plans and specs
Simultaneous close for lot purchase and construction financing available
9 month construction term
No BOR's (Builder of Record). A builder in the industry will be required on all transactions
Monthly payment due during the construction phase will consist of accrued interest only
Interest only during construction with competitive rate
One closing = less closing costs

*All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Guidelines subject to change.
VA loan subject to veteran's full eligibility.
USDA Program is for primary residence only and Income and Geographic limits apply.