construction home mortgage

Full or Stated income - home loan construction mortgage finance

Full Income  Construction - - - STATED INCOME

  - - - No income - - -

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or Full Documentation loan finance your choice

 With our No income Construction home mortgage finance that can still be done. Even in today's turbulent market with our construction home loan mortgage stated income finance. Which is for individuals and single family, no income construction home  mortgage loan finance only. We will allow construction companies also to utilize our no income construction home mortgage loan finance from us, for single unit housing. This is with no income construction home loan mortgage finance, with takeout provided.

 With this basic no income loan program to meet your new home needs - we will help you reach your goal. We finance single family homes for individuals and construction companies on a stated income basis. We also fund commercial construction as well as rehab loans.

Here are a few pointers to help you with
any construction you might want to do

Here's a brief description of each one:

Individual Home Purchaser-Must own property in own name. Property must be free and clear.

Builder/Investor  -we can do in LLC or individual name- must sign individually - no income check required, employment verified.

There are basics for no income construction loans, which are commonly set to variable-rate loans priced at a spread to the prime rate or some other short-term interest rate. Then you, the contractor and the lender establish a draw schedule based on stages of construction. After that, then the interest is charged on the amount of money disbursed to date.

Typically no income construction loans are often called story loans. Which means that the lender has to know the story behind the planned construction home mortgage before they're willing to loan you money. Since it's a story loan, it's not going to be standardized like mortgage loans underwritten to standard guidelines. So now that is understood, here are some common features to no income construction home mortgage.

Construction loans typically require interest-only payments during construction home mortgage become due upon completion. Completion for homeowners means that the house has its certificate of occupancy for the new home.

Another variable in construction loans is how much of the project cost the lender is willing to lend. If you already own the land, then that can be considered as equity on the construction loan. Remember a no income construction loan  home finance still available 2010. FREE INFORMATION KIT available with our no income construction home mortgage stated income financing. Which is for individuals and single family no income construction home mortgage finance. Construction companies also are allowed single units only.

Some homeowners use construction-to-permanent financing programs where the construction loan is converted to a mortgage loan. This is applied after the certificate of occupancy is issued. The major advantage is that you only have to have one application and one closing.

Depending on your personal view on interest rate trends, you could also purchase a rate-lock agreement valid through the expected completion of the construction.

A construction loan, unlike a mortgage, not meant to be around for a long time. If you're taking out a $100,000 construction loan for six months and you pay an extra 0.5 percent on the loan, it costs you an additional $150. (Assumes an average $100,000 loan balance over a six-month construction period.) Just make sure you allow for the construction delays, which is inevitable.

Sometimes you may be willing to pay a higher rate on the construction loan if you're doing construction-to-permanent financing and can get better mortgage terms or a longer, better rate lock from that lender, which is an option.

Construction home mortgage loan FREE INFORMATION KIT. Loans can be done with our construction home mortgage stated income. Full Income financing, which is for individuals and single family construction home mortgage financing. Construction companies also are allowed access to construction home loan. Full Income mortgage from us, for single unit housing construction home mortgage loan.

 Financing available in all 50 states 

- some restrictions apply.

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