Mortgage Company has expanded
its “One Time Close Construction-Permanent Loan” offering. Online Construction
allow you to purchase the lot, fund the construction of your single family home
using construction loans combined with your permanent loan and close only
one time, saving you a substantial amount of money in closing costs.
Please email with
construction loans questions
Please email with online construction loans questions
I am a
construction loans mortgage broker and represent 16 of the largest construction lenders in the
market. As a broker, I work for my client and not the lender, taking the time to
understand your situation and placing your construction loans with the lender whose programs
most closely match your situation and needs. I am able to give you unbiased
advice and support throughout the process. Construction lending is a specialized
part of mortgage banking and most lenders or brokers do not have the experience
to guide you through this complex process. I have given you some
basic construction loans information herebut please do not hesitate to call to discuss
your individual project. At the most fundamental level, construction lenders
offer two types of product characterized by how they base interest rates during
the construction phase. I will refer to these approaches as “One Step” and
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. Depending on the size of the interest reserve account, these funds may make some or all of your payments during the construction phase.
Several Online Construction Loans include:
I have written a series of newsletters covering construction/perm financing loans which are available free.
I have included a list of documentation needed.
There is a new page detailing construction loan 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 calculate your mortgage qualification ratios.
I have included detailed Frequently Asked Questions and common misconceptions about the process of building your home with a construction/perm loan.
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
Prequalify for your Online Construction Loan.