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Looking for 0-3.5% down construction to perm loan

a 95% loan to value for a land loan would be ok too by shahramuah77 from Honolulu, Hawaii. Sep 13th 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

They don't exist.. If you are looking to do a construction loan, then you would need to either own the land already or have sufficient funds (typically 20% to 30%) to satisfy the construction loan's LTV (Loan to Value) requirements.. If you own the land already but it has a mortgage, then if there is sufficient equity to meet the requirement, you should be ok.. if you don't own any land, and you are looking for this 0 to 3.5% down construction to perm loan, then I can say with fairly certainty that it does not exist.. Construction loans are one of the most risky for lenders.. since they are committing to paying for the construction of a home over the next 6 to 12 months, all with the anticipation that you will be able to qualify up to a year later for a mortgage.. For this reason, most lenders who were doing construction loans around 2008, suspended all these loan products... right now, they are starting to make a comeback.. but you wont find one with 0 to 3.5% down.. nor will you find a land loan at 95%.. typically, land loans require 30% to 40% down.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Sep 13th 2017
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