Construction Loans

Construction Loans For Builders Or Home Borrowers

A Selection Of Programs & Benefits Available To You

A construction loan is different from a permanent home loan because it is a short-term loan where money is borrowed specifically to pay for the cost of constructing a new home.

Most borrowers prefer the Construction-to-Permanent Loan, which, when the house if finish being built, automatically converts from a construction loan to a permanent, FHA, VA or Conventional 30 year loan.

When you secure your construction-to-permanent home loan, you can also lock in your long term interest rate at the very beginning. This offers many benefits to you including; if the rates are low when you start but go up during the construction process, you get the lower rate.

If you’re a U.S. Military Veteran you can take advantage of the VA Home Construction Loan Program. This program helps veterans obtain a no-down payment loan at a very competitive interest rate.

Priority Mortgage Funding also gives you the option of what’s called a “one time close”. This mean the close occurs when the construction is completed.

There are many benefits to One Time Construction Loan including:
  • Save double on the closing costs
  • Borrowers cannot be come un-qualified by loosing a job or getting a bad credit rating during the construction of the home.
  • Take advantage of interest rates when they’re low.
  • Construction loan rolls easily into a FHA, VA or Conventional 30 year home loan
  • You may also finance the land acquisition as part of the process
  • VA loan requires 0 Down Payment.
  • FHA Loan requires only a 3.5% down payment
  • Conventional loan requires only 5% down payment.

We Are Your Local Reverse Mortgage Loan Experts!

Call 760 241 7620 To Speak With A Reverse Mortgage Loan Consultant

Click Here to set appointment or request more information

Haga Clic Aquí
Para Español for English