My last article summarized the basics of construction-to-permanent financing with more emphasis on the underwriting portion of the process. In this article, I will discuss the following two phases.
After a C/P loan has been underwritten, approved and closed prior to breaking ground, construction may begin. Once that part is complete, the “permanent” phase may commence.
Continue reading The Basics of Construction to Permanent Loans – Part 2
A popular mortgage to obtain before the Great Recession was construction-to-permanent financing. Not only was it a common loan, but it was also easy to get.
Also known as one-time close construction loans, these have become obscure today due to the inherent risks a lender must take to issue these types of mortgages — the Great Recession still lingers in their minds. Continue reading The Basics Of Construction to Permanent Loans
Some songs will make “you wanna build a 10 percent down white picket-fence house on this dirt.” But Florida Mortgage Firm is singing a different tune. We offer VA construction loans and FHA construction loans with a much lower down payment. If you’re going to build a home south of the Florida-Georgia line, you’ll want to learn more about these construction programs. Click HERE for more information.