Construction Loans | The Loan Designer

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: US Mortgage Corporation offers aggressive In-House long-term lock options of 3 plus 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
9-12 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
Available for FHA, VA and Conventional Construction Lending
Downpayments varies based on specific loan. Let’s connect to determine options to build your Dream home.

*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

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.