• a program designed to fund the cost of building a new home and the purchase of a lot (if not already owned).
• The borrower applies once and then closes on both the construction and the mortgage loan.
• The fair market value of the proposed subject property will be utilized to establish the maximum loan amount.
• Land value is based on the value as reported in the Appraisal – there is not a seasoning requirement.
• Fixed Rate only
• Owner Occupied