Introducing our New Construction, 1 Time Closing for: VA, FHA & USDA-Rural Development Buyers

Introducing our New Construction, 1 Time Closing for: VA, FHA & USDA-Rural Development Buyers

Yup, that’s right! 

 If you are a buyer that wants to have a custom built home, but needs or wishes to finance with a Zero Down VA Loan, or a Zero Down USDA-Rural Development Loan, or a 3.50% Down FHA Loan we have the program for those who qualify. Or, if you are a custom builder, or Realtor looking to increase your sales volume, this is also a niche program that may be worth considering.

For the Buyer (Borrower), the lot can be purchased and paid off at the closing of the construction loan.  The benefit arises because the construction loan and permanent end loan are closed on the land and new home (to be built) at the same time.  This eliminates the extra cost of refinancing when the home is completed.  Furthermore, the rate can be locked in for up to 12 months during the construction stage and has a “Float Down” option where the borrower would get the lower rate at closing if rates were to drop.  This protects the borrower from the risk of rates going higher during the construction phase, but also from the risk of being held to a higher locked in rate if they were to drop by end of the construction phase.  There may be additional restrictions, but as of now they are:  (1) No Self-builds or self-subcontracting, (2) Lot size is limited to 10 acres, No non-traditional homes such as tiny homes, log homes, berm homes, (3) Credit score must be 660 for FHA, VA & USDA-Rural Development for our new construction loans.  We require a 620 score for existing homes.

To get your FREE New Construction overview pamphlet for Buyers

Click Here!

For the Realtor & Builder, the main advantage is to establish a niche in the new construction market that has always lacked supply for low down payment, government backed (VA, FHA & USDA-Rural Development) mortgage financing.   The Realtor is paid their commission from the builder and on the land at initial closing.  From there, they are out of the loop if they desire as the remainder of the work with the builder in terms of the releasing of draws is done with the lender.  Additional benefits for the builder is that there is no fall out later due to rising rates, or because the buyer may not qualify due to a change in their employment or credit before the home is completed.  Furthermore, using our money for the construction frees up the Builder’s bank construction lines allowing them to build more homes.

For requirements of the builder and to get a FREE New Construction pamphlet for Builders

Click Here!

If you wish, I would be happy to send you a buyer and/or a builder pamphlet on our construction program in the mail.  Please feel free to contact me to discuss this program further.  I respond to emails in the evenings and weekends.  By referral, I may be reached at: