One-Time Close,

Construction Loans

What One of the 4 Kinds of Construction Loans Should I Get?

Conventional Loan

10% DOWN PAYMENT

 

ROLL LOT & COST-TO-BUILD INTO 1 LOAN

 

CREDIT SCORES DOWN TO 700

 

i

PRIVATE MORTGAGE INSURANCE DEPENDENT ON LOAN

 

CLOSING COSTS CAN BE PAID BY THE BUILDER

 

INTEREST ONLY PAYMENTS DURING CONSTRUCTION

MOST BUILDERS ACCEPTED

 

l

STANDARD UNDERWRITING

 

FHA Loan

3.5% DOWN PAYMENT

 

ROLL LOT & COST-TO-BUILD INTO 1 LOAN

CREDIT SCORES DOWN TO 620

 

N

STANDARD PRIVATE MORTGAGE INSURANCE

 

CLOSING COSTS CAN BE PAID BY THE BUILDER

 

NO PAYMENTS OUT-OF-POCKET DURING CONSTRUCTION

MOST BUILDERS ACCEPTED

 

UNDERWRITING IS MORE FLEXIBLE THAN CONVENTIONAL LOANS

 

USDA Loan

$0 DOWN PAYMENT

 

ROLL LOT & COST-TO-BUILD INTO 1 LOAN

CREDIT SCORES DOWN TO 620

 

"

Lower PMI (PRIVATE MORTGAGE INSURANCE) THAN FHA

 

CLOSING COSTS CAN BE PAID BY THE BUILDER

 

NO PAYMENTS OUT-OF-POCKET DURING CONSTRUCTION

MOST BUILDERS ACCEPTED

 

UNDERWRITING IS MORE FLEXIBLE THAN CONVENTIONAL LOANS

 

VA Loan

$0 DOWN PAYMENT

 

ROLL LOT & COST-TO-BUILD INTO 1 LOAN

CREDIT SCORES DOWN TO 620

 

Q

NO PRIVATE MORTGAGE INSURANCE

 

CLOSING COSTS CAN BE PAID BY THE BUILDER

 

NO PAYMENTS OUT-OF-POCKET DURING CONSTRUCTION

MOST BUILDERS ACCEPTED

 

UNDERWRITING IS MORE FLEXIBLE THAN CONVENTIONAL LOANS

 

For more information about

Construction Loans

Fill out the form and we will send you some information.

Get Started

OR

What Our Past Clients Are Saying

Local Realtor

"CHM Lending is my preferred Lender, I know my clients (friends and family) will get the very best in rates and service. Their entire team is on the ball!"

Ellen

"CHM Lending helped me get approved when others couldn't and I'm very grateful to Jennifer and Tim for being very personable with me. I feel like not only were they very professional I also made friends. I recommend their services to anyone who needs a loan."

Michael

"Tim and staff were great to work with. I have been known to be detailed and particular, and Tim took it in stride and made the process super easy! Also a special nod to Title Alliance who works in the same location...awesome job."

Do you have questions about Construction Loans?

Use our Live Chat to get some answers! You can also apply by clicking the button below… 

Tim Davison

Mortgage Broker

Cell/Text: (330) 352-4331

timdavison01@gmail.com

chmlending.com

NMLS #297964

Ohio License #LO.007105.001

Pennsylvania License #55229

A Division of Consolidated Funding Corp.
2425 Medina Rd Medina, OH 44256
NMLS #243256


NMLS Consumer Access
Ohio License #MB.800906.000
Pennsylvania License #55198

© 2018 CHM Lending. All rights reserved.

Privacy Policy | Mortgage Website Design: Absolute 0 Internet Studios