
Construction Loans Simplified
1. Find a Piece of Land or Use a Lot You Already Own
2. Home buyers, Homeowners and even folks looking for a Vacation Home can use Construction Loans
3. You can build a traditional stick-built, modular/pre-fab or double or triple-wide manufactured homes
4. Not just Conventional or bank portfolio products anymore - there are FHA, USDA and VA Construction Loans too! Some Construction Loan products do not even need a down payment!*When should you consider a Construction Loan?
*If you can't find the home you want in the right location
*If you want to avoid large track builders and pre-planned subdivisions
*If you want to have a true custom home
*If you want to tear down an old home and build a new one
*If you already own the land and are ready to build your dream home
The CMG Home Loans Team offers a wide array of construction loans for all kinds of borrowers: first timers, veterans, rural buyers, and even vacation and 2nd homes! These types of loans are designed to cover the cost to acquire the land (if not already owned) along with the money to build a new home in a single mortgage transaction, single loan, single payment, single down payment (if applicable*). Each program has their own distinct advantages. Make sure to speak with Adam to learn about all of your options and which one could work for you. Your Dream Home Financing solution is right here!
*VA Renovation and USDA Renovation do not automatically require a down payment.
If you’d like more information on Construction Loans fill out the contact form below. If you’re ready to apply and get preapproved, click “Get Started”!