GCG strives to offer the customer unparalleled and complete turn-key services. New construction financing is often the missing link that people need. We have teamed with a Nation Wide Mortgage Banker to offer New Construction Financing.
Key Points For DURING CONSTRUCTION LOAN:
- FULL DOC PROGRAM: Requires Income Documents, Tax Documents, Bank Statements, Savings Account(s), Brokerage, Etc.
- LOAN AMOUNTS $75,000 - $2 MILLION
- RATES START @ 8.95% - 9.95%
- Strength of file determines approval rate
- TERM 12 MONTHS
- Longer term granted on a case by case basis
- Loan To Cost Up To 80%
- Lot Purchase can be included
- LTV Range up to 65%
- Payments, Interest Only on Funds Advanced
- Interest Reserves Not Required, May be available if there is room in the loan to accommodate
- Liquid Reserves- 10% - 15% of the cost to build
Key Points For END/PERMANENT LOAN:
- Owner O/O and Non-Owner O/O programs
- 10 yrs – 30 yrs fixed terms
- Arm available Gov and Conv
- Conv and jumbo programs- MAX LTV 95%
- Government programs – MAX LTV 96.5%
- VA loan program- MAX LTV 100%
* HASSLE FREE PROCESSING
* ONE POINT OF CONTACT WITH BANK FOR ENTIRE PROCESS
* RATES, CONFORMING PREVAILING MARKET BASED UPON BORROWERS QUALIFICATIONS
* LOWER COST, WORKING DIRECTLY WITH THE BANK
For more information, please contact Lerin Byrd at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 239-454-7304 x101.
