Let's Go!

We appreciate your choice to work with Impresa Modular Homes and the CMG Home Loans Team! Adam Backes (NMLS #653829) is licensed in Maryland, Delaware, District of Columbia, Florida, North Carolina, Pennsylvania, South Carolina, Texas and Virginia. Adam has been in lending for 20 years and specializing in construction lending over half that time. Building a new home can be challenging. There many layers to consider and financing is just one of those. Working with an industry expert can help make the experience less difficult. We hope you choose to work with us to help make your dream a reality.

Depending on where you are in the process, understanding your loan options is a huge part. We have some unique products that don't follow the traditional construction loans you'll find at most local and regional banks. There's some basic information here so you can see what we offer. To get additional details and do a deeper dive, you can go a couple different routes. If you want to start with questions and schedule a call or meeting, simply fill out the contact form. If you're ready to jump right in and get preapproved to find out what you qualify for and how much you can potentially borrow, getting preapproved is the best way to go.

SINGLE CLOSE CONSTRUCTION LOAN OPTIONS

Fannie Mae Single Close Construction

A Conventional single close construction to permanent loan that follows Fannie Mae guidelines. This means as little 5% down on a primary residence and 10% down on a 2nd/Vacation Home. Build on land you already own or acquire a new lot with the loan.

Freddie Mac One-Time Close Construction

Similar to Fannie's Single Close Construction loan, but follows Freddie Mac's guidelines which are slightly different compared to Fannie Mae on things like student loans or converting your primary home to a rental property, for example.

FHA One-Time Close Construction

FHA One-Time Close Construction loans allow you to choose your own lot or use one you already own to build a new primary residence following FHA's guidelines which means flexible credit standards, lower rates compared to Conventional, and as little as 3.5% down!

VA One-Time Close Construction

VA One-Time Close Construction Loans allow qualifying Veterans, Surviving Spouses and Active Duty Military to buy land (or use their own) and build a brand new home. You may even not need a down payment depending on your available entitlement!

*VA Renovation and USDA Renovation do not automatically require a down payment.

USDA One-Time Close Construction

USDA One-Time Close Loans allow qualified borrowers in eligible rural areas to buy land (or use their own) and build a brand new home. 100% financing up to the appraised value!

*VA Renovation and USDA Renovation do not automatically require a down payment.

GET MORE INFORMATION

Ready to schedule a Zoom call or book a meeting? Need something else? Feel free to send me an email with any questions or requests or complete the form below:

GET PREAPPROVED

We've worked hard to simplify things and now the loan approval process has never been easier. We offer a couple secure and convenient application options:

1. Website

Quick. Easy. Secure.

I'M READY!

2. Mobile App

Download the mobile app from your app store

Click one of the icon's below

3. Over the Phone

We will gladly take your information over the phone and assist you with any questions you may have, call us at...

(410) 610-4965

Common Documents Needed
- For regular employment:
  
  Pay stubs for each applicant, covering the previous the 30 days
  
  Names/addresses of employers for 2 years
  
  W-2s for the last 2years
- For self-employed:
  
  For Sole Proprietors, personal federal tax returns for the last 2 years, complete with all filed schedules
  
  For S-Corporations, Partnership and Corporations, personal and corporate federal tax returns for the last 2 years, complete with all filed schedules
  
  1099s for the last 2 years, if applicable
  
  K1's for the last 2 years, if applicable
  
  Year to date, unaudited profit & loss statement
- For retirement income:
  
  Proof of pension income - 1099's and award letter
  
  Social Security income - 1099's and current annual benefit letter or statement
  
  Other type of retirement income - loan officer will advise
- For rental income:
  
  Federal tax returns for the last 2 years, complete with all filed schedules
- Social Security and Disability:
  
  1099s for the last 2 years
  
  Current annual benefit letter or statement
- Child support or alimony payments (optional for you to disclose)
  
  Divorce decree or parenting agreement
  
  Payment history
- Information on debts or loans not appearing on your credit report
- Bank statements for previous 2 months, complete with all pages
- Security accounts (stocks, bonds, life insurance), as needed/if applicable
- For Military and Veteran's, a copy of your Certificate of Eligibility - don't worry if you don't have it handy! I can get it for you.
  
  A DD-214 may be needed as well
- Any additional documents to help get your loan approved!

PAYMENT ESTIMATOR

If you'd like to get a rough idea of possible monthly mortgage payments, test drive our payment calculator!

To learn more and get a more personalized mortgage payment calculation, please contact us!

*The information provided by our calculators cannot be guaranteed in regards to your individual financial position by www.yourloanofficeradam.com. All examples are hypothetical for illustrative purposes only. Payments shown do not factor in any property taxes, homeowner's insurance, mortgage insurance, association dues, etc. For the most accurate and personalized results, we encourage you to seek advice from one of our qualified financial professionals.

CMG Home Loans is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal housing lender. Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending, and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. NMLS Consumer Access (www.nmlsconsumeraccess.org).