Programs & Guidelines change frequently, be sure to Contact us to obtain complete eligibility requirements, prequalification, preapproval.

** Site Built homes are suspended as of 10/27/2022 For FHA

Overview

Up to 96.5%  LTV combines financing for home construction, lot purchase/land payoff, and the permanent mortgage into a single closing. 3.5% Down Payment Assistance available

Highlights

• For homebuyers who want to build new multi-wide manufactured, modular homes or 1-unit stick-built homes,  this program combines financing for home construction, lot purchase/land payoff, and the permanent mortgage into a single closing.  There is no need to obtain both a construction loan and permanent mortgage

• 96.5%  LTV , 3.5% Down Payment Assistance available

• Construction portion of the loan is underwritten and approved, when all conditions for closing are cleared, the closing will occur before construction begins

• No payments due during the construction phase

• 30-year or 15-year fully amortizing fixed

• No re-qualification required once construction is complete

• Single closing reduces closing costs, saving time, money and paperwork

Eligibility Overview

Here is an overview of the eligibility requirements for this loan program. Contact us to obtain complete eligibility requirements, prequalification, preapproval.

• Minimum FICO of 620

• 96.5% LTV / 3.5% DPA Available

• Borrower must have a contract with a builder (licensed general contractor)

• Borrower must be purchasing land at closing, or currently own their property

• Manufactured, site-built and modular homes with draws or no draws during construction 

  • site built home suspended as of 10.27.2022 (Check In for any updates)

View Program Guidelines