Virginia
Construction/Perm Financing
Virginia construction/perm financing is my
specialty. Carteret
Mortgage Company has expanded
its “One Time Close Construction/Perm Financing” offering in
Virginia. These
Virginia construction/perm financing programs
allow you to purchase the lot, fund the construction of your 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
any questions on
Virginia construction/perm financing
I am a
Virginia construction/perm financing mortgage broker and represent 22 of the largest construction/perm
financing lenders in the
market. As a Virginia broker, I work for my
Virginia client 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 am able to give you unbiased
advice and support throughout the construction/perm financing process. Construction/perm financing is 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/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 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. 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 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.
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. I have detailed information on extended
interest rate locks with a free float down option.
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!
Prequalify for your Virginia Construction/Perm
Financing
| 
