Buying land and building a home is probably the most cost efficient way to buy a home. We finance the sale of the lot, plus the cost to build. You only need your 3.5% or 0 down if you are applying for the FHA or VA loan. Conventional loans still look for the 20% on construction loans so it’s best to do FHA. You pick the contractor but they must be licensed.
The contractor gives us a line by line bid from plumbing to septic to tiling to roofing. Then, we present the bid and finance the project with up to 9 draws. During the construction phase, the interest rate is 6% no matter what your credit score may be, This is to entice you and the contractor to speed up the process. After the build is complete, your loan resets to the fixed low rate you deserve for 30 years.
580 Credit Score
No lates of any kind within 12 months
Find a lot with a realtor, we finance the lot and the build.
Manufactured homes ok
Must be within county limits
You can buy FHA if you already own a home
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