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im looking for the best construction loan rates with the lowest down payment any ideas?

by custom_580_573 from Alexandria, Virginia. Feb 12th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Feb 12th 2013
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

DEPENDS on your credit , but usuallly around 3.5% ish, with 20% down please go to www.yourloanpartnerforlife.com linda or email me at yourloanpartnerforlife@live.com

Feb 12th 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

We have the best program out there that we know of. We have Construction Programs with 20% down and rates around 3.5% interest only for 12 months. Our other Division is www.ConstructionLoanWarehouse.com if you would like to research our construction programs. My direct line is: 888-320-7888 - Ken Burrows The only other option is to possibly get a builder to finance you or front the construction costs.

Feb 12th 2013
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Ron Wiltshire (RWiltshire)
#36 ranked lender in Massachusetts - 3 contributions

TD Bank has an extremely competitive construction loan product. Reach me at 866-488-3000 to discuss further.

Feb 12th 2013
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I am in the Richmond market and work with Monarch Mortgage and we have a 90% construction/perm loan providing the totatl amount is below $417,000(a conforming loan amount) We approve the builder and approve you as the borrower and have one closing.Call me if you would like , Joni Moncure 804-402-1084

Feb 12th 2013
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Jason Vondrak (jvondrak)
#221 ranked lender in California - 1,741 contributions

Generally it's best to contact a local lender or broker to find the best rates in your area based on your credit profile and income.

Feb 12th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Construction/Perm loans will depend on several factors but you can find anywhere fom 3.5%-12% on the interest only(6-12month) portion so it pays to shop around.

Feb 12th 2013
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Anthony PapaGiorgio (apapagiorgio@inlandbank.com)
#79 ranked lender in Illinois - 16 contributions

Hi there, I have a couple of great lenders that I can refer you to if you're still searching for the right one. Let me know if you'd like me to make an introduction

Feb 12th 2013
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