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.
Prequalify for your Construction to Permanent
Loans
| 
