YES!! At Citizens One Home Loans, we offer 90% financing for loan amounts up to $850,000! Physicians and Dentists can go to 89% up to $1M using our Doctor Program. Best part, there is No Mortgage Insurance for either of these products.
Whether your’re building or renovationg, you can save time and money with construction-to-permanent financing. Our program allows you to combine your construction financing and permanent mortgage into one loan, with a whole range of added benefits.
Our CP program is a true one time close loan. You choose your final / permanent rate up front, lock it in and close with that rate. Upon completion, you DO NOT have to update any financial documentation, re-qualify or have an appraisal completed. Upon completion, you simply roll into the permanent rate and begin paying on your loan.
How it works.
If you’re planning to build new, our construction-to-permanent loan provides financing for the purchase of your lot and the construction of your home on that lot. Most often the lot purchase and construction financing are rolled into one transaction.
If you already own a lot, the construction-to-permanent loan can be used to finance the construction costs. And, if there’s a mortgage on the lot, you may be able to roll it in with the construction-to-permanent financing. Even if you’re renovating an existing home, you can still finance the renovation cost and mortgage financing with one convenient loan.
Benefits of construction-to-permanent financing from Citizens One.
With our program, you’ll know upfront that the financial aspects of building or renovating a home are in place before you begin.
• Certainty. Lock in your permanent mortgage interest rate up to a year in advance without a fee, giving you added protection against rising rates.
• Savings. Save time and money with one loan qualification and one set of closing costs. And, if your property is located in a state with a real estate transfer tax, our construction-to-permanent loan may save you thousands of dollars if the locality bases the transfer tax on the cost of the land alone for a construction loan.
• Convenience. Take up to 12 months for the construction of your home, and during construction, you make interest-only payments on funds already disbursed.
• Flexibility. Include lot financing or build on your own lot. You can build a primary residence or vacation home, or renovate an existing home.
• Choices. Choose a fixed-rate loan or a 5/1, 7/1 or 10/1 adjustable-rate mortgage (ARM) as your
permanent financing.
Get your plans in motion.
With all that’s involved in seeing your plans through, we want to make sure that your financing is one thing you won’t have to worry about. Let’s talk about your options to find the financing that’s right for you. We’re ready to help with personal service, so you can move ahead with confidence.
It’s never too early to explore your options, so talk with a Citizens One loan officer today.
Leonardo D. Yepes
704.237.2022
516.637.0027
Leonardo.Yepes@CitizensOne.com
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