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One-Time Close Construction-To-Permanent Loan

For manufactured, modular, and stick-built properties: finance the construction, lot purchase, and permanent mortgage all with a single loan. No re-qualification. No second appraisal.

Why worry about re-qualifying or incurring additional costs? Designed for manufactured, modular, and stick-built housing, this program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing.

Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower, simplifying the construction and purchase process.

FINANCING ELIGIBILITY
■ Financing options: FHA, USDA, and VA
■ Maximum LTVs:
– FHA: 96.5%
– USDA: 100% of market value
– VA: 100% not including VA funding fee
■ 620 minimum qualifying credit score

ELIGIBLE TERMS
– FHA: 15- and 30-year fully amortized fixed
– USDA: 30-year fully amortized fixed
– VA: 15- and 30-year fully amortized fixed

ELIGIBLE PROPERTY TYPES
■ FHA: multi-wide manufactured housing, modular housing,
1-unit stick-built housing
■ USDA: new multi-wide manufactured housing,
modular housing, 1-unit stick-built housing
ONE-TIME CLOSE
04.19OTC
■ VA: new multi-wide manufactured housing, modular housing,
1-unit stick-built housing

CONSTRUCTION ADMIN FEE
This fee includes:
• Construction Interest
• Construction Draw Inspections
• Construction Closing Coordination
• Construction Underwriting
• Title Updates

ELIGIBLE PROPERTY TYPES
■ FHA: multi-wide manufactured housing, modular housing,
1-unit stick-built housing
■ USDA: new multi-wide manufactured housing,
modular housing, 1-unit stick-built housing
ONE-TIME CLOSE
04.19OTC
■ VA: new multi-wide manufactured housing, modular housing,
1-unit stick-built housing

CONSTRUCTION ADMIN FEE
This fee includes:
• Construction Interest
• Construction Draw Inspections
• Construction Closing Coordination
• Construction Underwriting
• Title Updates

PROGRAM HIGHLIGHTS
■ Option for no payments due from borrower during construction OR
■ Option for construction interest to be paid by borrower
(available in FHA and USDA programs)
■ No re-qualification once construction is complete
■ Single closing reduces total costs
■ Realtor commission generally paid-in-full at closing (prior to construction commencing)

SINGLE CONSTRUCTION ADMIN FEE
This fee includes:
• Construction Interest
• Construction Draw Inspections
• Construction Closing Coordination
• Construction Underwriting
• Title Updates

Interested in a One-Time Close Construction-To-Permanent Loan? Contact us via the form below!

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