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We specialize in financing residential construction loans
for owner-builders or licensed builder projects. Whether you are building a new home, purchasing the
land for your future home, remodeling or adding an addition to your current home, we can help you
finance the cost of your project by providing both the interim construction loan and the permanent mortgage. |
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the Small Builder to the Do-It-Your Self Home Builder. |
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Property Types:
- 1-4 family Homes
- Single-Wide and Double Wide Homes
- Vacation Homes
- Modular Homes
- Log Homes
- Unusually Zoned
- Lots/Acreage
- Spec Homes
- Partially Started Homes
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Construction-To-Permanent Loans
A construction-to-permanent loan is an actual mortgage that combines the construction and permanent financing
into one loan. Depending upon which program you choose and qualify for, your initial construction phase may
offer a term option of 6, to 12 months so you can request draws to pay for your materials, supplies, the builder,
and sub-contractors during construction. During this construction period, you are required to make interest only
payments based on the outstanding amount drawn from your construction-to-permanent loan. Once your project is completed,
the loan simply converts to a permanent mortgage and your principal and interest payments begin.
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Land Loans
You found the perfect location to build your home and now you need the perfect loan? Our Lot Loan is the right
loan if you are looking to purchase residential property for your future building plans. Once you have purchased your
land whether it is acreage or a lot; you will have time to design and plan your new home, pick your contractors and best
of all we will roll any remaining balance into your Construction Loan when you are ready to build.
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Remodeling Loans
You've been dreaming of a change to your home for years; maybe a new kitchen, family room, or a bigger bathroom but
you can't find a lender who will loan you a significant portion of the value of your home. Or maybe you want to
borrow more than what your home is currently valued. Because we know that the end value of your home is worth the
investment we make your dreams possible. We don't require that you have a licensed contractor or building supervisor
involved in your project, so you can truly do-it-yourself.
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Bridge Loans
This loan is designed for homeowners planning to construct a new owner-occupied primary residence.
The Bridge Loan allows the homeowner to access the equity in their current owner-occupied residence,
and use it as the down payment on a Construction-to-Permanent Loan. During the construction period will not
have to make a bridge loan payment until you have finished your new home or you have sold your existing home.
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Speculation Loans
This loan also known as a SPEC Loan is designed for contractors, builders and developers who are building
a home without a guaranteed sale upon completion. These individuals are speculating that they will earn a
profit when they sell the newly constructed home.
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Some of the benefits are:
- Financing up to 90% of the total cost
- 24/7 draw requests
- Up to four loans to the same builder (restrictions apply)
- Loans up to 1.5 Million
- Land Equity can be used as a down payment
- LLC, Corporation or Partnerships (restrictions apply)
- Lot draws up to 60% of the land value
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