a) If Client has to Buy the Land, it will finance the Purchase of the Land, the Construction, and the Permanent Loan. 
b) If Client Owns the Land and it is Free and Clear, it will Finance the Construction and the Permanent Loan, and Consider the Value of the Land in the Valuation.
c) If Client Owns the Land and it is the land is Financed, it will pay off the debt, Finance the Land, the Construction and the Permanent Loan.

Features

•    PROGRAMS: Purchase & Refinance. Conventional:   15 and 30 years. 7/6 and 10/6 ARMs       

USE: Primary Homes, 2nd Homes, Investment.      . VA: Coming soon Primary
•    MAXIMUM LOAN AMOUNTS: Conventional 2025:  1 Unit: $806,500 * 2 Units $1,032,650  * 3 Units $1,248,150
* 4 Units: $1,551,250   Monroe County Conventional 2025: 1 unit: $929,200 *  2 Units: $1,189,550
*  3 Units: $1,437,900 * 4 Units: $1,786,950       VA Coming soon:$4,000,000  
•    TYPE: 1 to 4 Families Homes. Modular Homes OK, No Condos. No Manufactured Homes
•    FICO: 700 Minimum      VA: Coming soon  580
•    MINIMUM DOWN: Primary: down to 5% Down Payment.    Investment: Higher    VA: Coming soon  0%
•    BUILD PERIOD MAXIMUM: 11 Months
•    BUILD PERIOD MONTHLY PAYMENTS:  Conventional: Interest-only payments on the Amounts Drawn.
*   Permanent Loan Monthly Payments; Principal & Interest     VA: Coming soon: No Payments
*   Project must have Approved Plans and Permits

* Other Terms and conditions may apply.  Subject to errors and/or omissions and to change without prior notice.

BETTER FOR BUILDERS AND CONTRACTORS
a) Levels the playing field. Gives general contractors more freedom to build unique dream homes for their clients, rather than cookie-cutter developments.
b) Get paid faster. Once the loan is closed, the cash is ready for labor and materials. It also saves the expense of having to pay for the build up front and then find a buyers.

BETTER FOR BORROWERS
a) Save time and money. One closing means only having to cover one set of closing costs.
b) No settling. With new construction, You really can have the home of their dreams
c) Low down payment. Conventional: As low as 5% down       VA 0% down,     make loans accessible.
d) One approval. No need for a second approval.
e) Modify down option. Once the loan is complete, Borrowers can modify down to secure a lower interest rate if the market changes or stay locked in no matter how the market moves.
f) Build-period payments:  Conventional Borrowers can enjoy lower, interest-only payments on the Draws made.
VA Borrowers have no payments during the build period.
g) Less out-of-pocket expense. The Borrower doesn’t have to pay for the build and then get a mortgage. The mortgage pays for the build!

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