Contrary to popular belief, Building your dream home is possible with all 4 loan types; Conventional, FHA, USDA, & VA! There is a level of risk in New Construction that many lenders are shying away from in the wake of the housing market collapse. HOWEVER, we proudly offer the full suite of Construction-to-Permanent loan products!
How Construction Loans Work
- Get Pre-Approved
- Sign a Contract to Build
- Sign a Contract to Purchase Land
- Complete pre-construction meeting with your builder
- We will order the appraisal and title work
- Underwriting will issue a conditional approval
- Underwriting will issue “Project Approval”
- Close your Loan
- Your Builder Completes your Home
- Construction loan is converted to a permanent loan and you move in!
Check out our Construction Loans Web Page(s): https://vaconstructiontoperm.com
Talk with our Licensed Construction Loan Specialist, Tim Davison, at (330) 352-4331 or
You can also fill out our application by simply clicking “Apply Now” on any page!
Conventional construction loans wrap the construction loan and the mortgage on the completed project into a single loan. After your construction is complete your new permanent mortgage is like any other mortgage.
For people that are struggling to qualify for a conventional construction loan the FHA offers financing that becomes a long-term, permanent mortgage with easier credit requirements.
VETERANS, building your dream home is a possibility with a VA construction loan. This no-down payment program allows qualified borrowers to use their VA entitlement to obtain a mortgage for new construction.
CHM Lending is a local mortgage broker founded in 1992 and located in Medina, Ohio. Our company offers a full range of mortgage loan products including Conventional, FHA, VA, USDA, Construction, and Renovation loans. Our team has a combined over 45 years of experience in the mortgage industry and was voted Best of The Best in Medina County in 2017 & 2018. We use a common sense approach with all of our clients and we work with many different lenders to be able to offer the most competitive rates and costs coupled with amazing customer service.