Construction/Perm Financing
Construction/perm financing is my
area of specialization. We have expanded our “One Time Close Construction/Perm Financing” offering. These
construction/perm financing programs
allow you to purchase the lot, fund the construction of your primary or second home
using a construction/perm financing product combined with your permanent loan and close only
one time, saving you a substantial amount of money in closing costs. Email
construction/perm financing questions
I am a
construction/perm financing mortgage broker and represent 22 of the largest construction/perm
financing lenders in the
country. As a broker, I work for you and not the lender, taking the time to
understand your situation and placing your construction/perm financing with the lender whose programs
match your needs. I will give you unbiased
advice and support throughout the construction/perm financing process. Construction/perm financing is a specialized
area and most brokers do not have the experience
to guide you through this complicated process. I have given you some
basic information on construction/perm financing here but please do not hesitate to call to discuss
your individual construction project. At the most fundamental level, construction/perm
financing lenders
offer two types of
construction/perm financing product characterized by how they base interest rates during
the construction phase. I refer to these approaches as “One Step” and
“Two Step”
Several Construction/Perm Financing Loans include:
-
One Time Close Construction/Perm
Financing Single Rate. "One Step" program protects against
increasing rates and extended lock fees. Interest only fixed rate during
construction and modifies into a permanent loan after construction.
-
One Time Close Construction/Perm
Financing Prime Rate
Based. "Two Step"
program allows
you to borrow up to 95% of your total cost for a primary home and up
to 90% on a Vacation Home. Based on the Prime Rate during the
construction period with interest only collected on funds disbursed. Allows a 12 month construction phase.
-
Lot Loans.
Designed for those who found the perfect lot but are not ready to build. Low
down payment loans available.
New! One of my favorite lenders has finally reopened
their lending department. They offer you the ability to
modify into the incredibly flexible Cash Flow Loan
when your project is complete.
I have written a series of
newsletters
covering them which are available free.
There is a page detailing construction/perm
financing fees.
I
have a Frequently Asked Questions about the process of building with construction/perm
financing.
I have detailed information on extended
interest rate locks with a free float down option.
Learn about as completed value
financing
I have also included information on the specialized areas
of log home, modular
home, or timber frame home
building
I have a list of documentation needed
to process your loan.
One of the questions I frequently get from my clients is about finding a
qualified and reliable contractor. After a great deal of research, I do
recommend Reliable Remodeler. I have personally used their free service and was
very pleased with the outcome. Please complete their
contractor referral form for up to 4
local pre screened contractors. As a
Certified Mortgage Planning
Specialist, I offer an analysis of
your situation today can make suggestions on how small changes in how
your debt is structured today can have a life changing effect in the years
to come. Read more
about this free, no obligation service.
New! View
my
Wealthbuilder presentation and learn the safe way to manage your debt
and fund your retirement.
I hope the information on this page was useful to you. Please
see my
Mortgage Market Guide. It is a weekly publication explaining the financial markets
from a consumer's perspective that is available on this website or by
email subscription. I have nearly 8,000 subscribers today and would be happy to have you as
well. Your email address will never be used for any other purpose.
Prequalify for your Construction/Perm
Financing
| 
