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Construction to Permanent Loans

Construction to permanent loans are my area of specialization. Carteret Mortgage Company has expanded its “One Time Close Construction to Permanent Loans” offering. These construction to permanent loans allow you to purchase the lot, fund the construction of your home using a construction to permanent loans product together with your permanent loan and close only once, saving you substantial money in closing costs. Email questions on construction to permanent loans

I am a construction to permanent loans mortgage broker and represent 22 of the largest construction to permanent lenders in the market. As a broker, I work for you, my client and not the lender, taking the time to concider your needs and placing your construction to permanent loans with the lender whose loans match your situation. I can give you unbiased advice and support throughout the construction to permanent loans process. Construction to permanent loans are a specialized part of mortgage banking and most brokers do not have the experience to guide you through this complex 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 fundamental level, construction to permanent lenders offer two types of construction to permanent loans characterized by how they base interest rates during the construction phase. I refer to these approaches as “One Step” and “Two Step”

Several Construction to Permanent Loans include:

  • One Time Close Construction to Permanent Loans 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 to Permanent Loans Prime Rate Based. "Two Step" program allows you to borrow up to 95% of your total cost for a Principal Residence and up to 90% on a Vacation Home. Based on the Prime Rate  during the construction period with interest only collected on funds disbursed.  

  • Lot Loans. Designed for those who found the perfect lot but are not ready to build. \

    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 to permanent loans fees.

I also have a Frequently Asked Questions about the process of building with  construction to permanent loans.

If you are not ready to build yet but have found the perfect lot. The new Purchase Plus Lot Loan can save you a significant amount of money.

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 financing.

I have detailed information on extended interest rate locks with a free float down option. 

If you have had credit issues in the past, it is absolutely critical in today's market that they be addressed before you try to get a mortgage. I have referred my clients to CreditFX for the past 5 years. Exceptional customer service and I am often stunned at what they have been able to have removed from people's reports, allowing my clients to qualify. Their charge of $199 is one of life's true bargains.

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.

Construction to permanent loans Prequalify for your Construction to Permanent Loans

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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.