One-time Close Construction Loan for Retailers

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Lower Down Payment: Clients can qualify with as little as 3.5% down for FHA, 0% for VA and USDA One-time Close
PMI automatically terminates at 78% LTV (Conventional OTC only)
Everything is Inclusive: Finance the home, lot, and permanent mortgage in one loan closing
No Worries of Change Orders: Details are secured and cannot be changed
Add More Volume: Reach more customers with lower down payment options
Generally no re-qualifying: Do not worry about client needing to qualify for a second loan

Max loan-to-value (LTV):
- FHA: 96.5%
- VA and USDA: 100%
- Conventional: 90%; 95% for MH Advantage® or CHOICEHome®; 97% when CHOICEHome property is combined with Home Possible or HomeOne
FHA/VA/USDA: minimum credit score 620;
Conventional: minimum credit score 680
FHA/VA/USDA: 15 and 30 year fully amortizing fixed
Conventional: 15, 20, or 30-year fixed; super conforming mortgages (in designated high-cost areas)
Newly constructed: 1-unit site-built and modular homes, multi-width manufactured homes
Ask me about the No Draw Option