FLORIDA] mortgages : FLORIDA Construction loan. for REALTOR's Customers, Land, Construction and Permanent loan 1 Rate, 1 Closing

REALTOR^®
Does Your Customer Want to Buy Residential Land to
Build Their New Home???

We can now offer your Customer a new Construction Loan Program that can Finance Land, Construction and Permanent Loan with only ONE Rate and Only ONE Closing. Before Construction Starts!!!

If your Customer has to Buy the Land, it will finance the Purchase of the Land, the Construction, and the Permanent Loan.
If your Customer 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.
If your Customer Owns the Land and it is the land is Financed, it will Pay off the Land, Finance the Land, the Construction and the Permanent Loan,

This is a Great Savings and Convenience, as your Customer will pay Closing Costs ONLY Once.

- PROGRAMS: Conventional: 15 and 30 years. 7/6 and 10/6 ARMs VA: 30 years Fixed, 30 years JUMBO
- USE: Primary, 2^nd Homes, Investment. VA: Primary.
- MAXIMUM LOAN AMOUNTS: Conventional 2024: 1 Unit: $766,550 * 2 Units $981,500 * 3 Units $1,186,350
  * 4 Units: $1,474,400
  Monroe County Conventional 2024: 1 unit: $1,149,825 * 2 Units: $1,1472,250 * 3 Units: $1,779,525 * 4 Units: $2,211,800
  VA: $4,000,000 Max
- TYPE: 1 to 4 Families Homes. Modular Homes OK, No Condos. No Manufactured Homes
- FICO: 700, VA: 580. *
- MINIMUM DOWN: 5% Down Payment. VA: 0%
- BUILD PERIOD MAXIMUM: 11 Months
- BUILD PERIOD MONTHLY PAYMENTS: Conventional: Interest-only payments on the Amounts Drawn.
  VA: Borrower makes NO payments
  Permanent Loan Monthly Payments; Principal & Interest
* Other Terms and conditions may apply.

BETTER FOR Sellers & Realtors

Buyer: Can Purchase the Lot with as Low as 5% Down and finance the price in the Construction-Permanent Loan Package. Seller gets Paid at Closing even before construction starts.

BETTER FOR BORROWERS

Save time and money. One closing means only having to cover one set of closing costs.
No settling. With new construction, You really can have the home of their dreams.
Low down payment. Conventional: As low as 5% down VA 0% down make new construction loans accessible.
One approval. No need for a second approval.
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.
Build-period payments: Conventional Borrowers can enjoy lower, interest-only payments. VA Borrowers have no payments during the build period.
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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