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Home Construction Mortgage

Home construction mortgage products are my passion. Carteret Mortgage has expanded its “One Time Close Home Construction Mortgage” offering. Home construction mortgage products allow you to purchase the land, fund the construction of your home using a home construction mortgage together with your permanent loan and close only one time, saving you closing costs. Email home construction mortgage questions

I am a home construction mortgage broker and represent 22 of the largest home construction mortgage lenders. As a broker, I work for you and not the lender, taking the time to understand your situation and placing your home construction mortgage with the lender whose home construction mortgage programs match your needs. I can give you unbiased advice and help throughout the home construction mortgage process. Home construction lending is a specialized part of mortgage banking and most loan officers do not have the experience to guide you through this often complicated process. I have given you some basic home construction mortgage information on this page but please call to discuss your individual home construction project. At the most fundamental level, home construction lenders offer two types of product characterized by how they base interest rates during the construction phase. I refer to these approaches as “One Step” and “Two Step”

Home Construction Mortgage products include:

If you have owned your lot for 1 year, or if you have documented "on site" improvements to the property, we may be able to use this equity to meet your down payment requirement or create an interest reserve account.

I have written a series of newsletters covering these which are available free.

I have included a list of documentation needed to process your application.

There is a new page detailing home construction mortgage fees.

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

I have included a page on how to properly calculate your construction mortgage qualification ratios.

I have included detailed Frequently Asked Questions and common misconceptions about the process of building with a construction mortgage.

I have also included  information on the specialized areas of log home, modular home, or timber frame financing

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

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\

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.

Home Construction Mortgage Prequalify for your Home Construction Mortgage.

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