Construction

Since 2004 I’ve been helping clients with construction lending and loans. It’s exciting to help clients move into their dream home. I’ve personally used the construction program for my own home. I look forward to helping your family too.

  • Construction Lending: Find a lot or own a lot, select a builder and let’s build your Dream Home. We’ll be with you from the ground up to keys to your home. We make construction lending easy. I’ve specialized in construction lending since 2004 and built my own homes too.
  • Construction Loans: Build offers a full range of construction loan financing options including one- and two-time close construction loans on everything from Conventional to FHA and VA. Our in-house Interim Construction Operations team works closely with buyers and builders to ensure a smooth experience when building a custom home.
  • Long Term Lock Programs: Thrive offers aggressive In-House long-term lock options of 4, 6 and 9 months specifically for our strategic builder partners. This is a competitive advantage for our builders as we continue to see protracted build times and rising rate market.

One-Time Close Construction Loans

Conventional

  • Conforming loan amount
  • Mac loan to value 90% with minimum credit score of 720 (Primary Residence)
  • Max Loan to Value to 80% with a minimum credit score of 700 (Primary Residence)
  • 15 or 30 year fixed rate option
  • Primary or Secondary Home 1-unit SFD
  • No requalifying at modification (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 640 (620 on Manufactured)
  • No requalifying at modification

VA

  • Max loan to value 100%
  • 15 & 30 year fixed rate option
  • Primary owner occupied 1 unit
  • Minimum credit score of 640 (Subject to Veterans Eligibility)

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

*Certain restrictions apply. Maximum loan to value will be based on the agency and investor guidelines. All loans are subject to credit and property approval.

Two Time Close Product Terms

  • Offer up to 100% financing for certain geographical areas
  • Cash lot equity counted as down payment
  • Minimum credit score 640
  • One Stop Shop – Relationship with one loan officer from start to finish
  • Perm take out fully underwritten up front and will follow permanent loan guidelines
  • Owner occupied and vacation homes
  • 6, 9 or 12 month term available depending upon geographical areas
  • Permanent loan can be structured as a Conventional, FHA, VA, or JUMBO loan transaction
  • Simultaneous close for lot purchase and construction financing available
  • Closing turn time within 30 days of receiving contract, plans, and specs
  • No BOR’s (Builder of Record). A builder in the industry will be required on all transactions
  • Interest only during construction with competitive rates