USDA $0 Down Construction Loans are Here!

I am very pleased to announce that Icon Mortgage has now become one of only two Michigan Mortgage Lenders approved to lend USDA funds for their pilot “Combination Construction to Permanent Loan” Program. This is a one time close construction loan with interest only payments during the 12 month build time that automatically recasts into a 30 year fixed USDA Guaranteed loan. So, not only can you buy a home through RD with $0 Down, Now you can BUILD the THE home you want exactly how you want it, with $0 Down! We do not know how long this will be available so you need to take advantage while it lasts! As mentioned this is just a pilot program for now. I would be happy to answer any specific questions you may have but just some of the basic highlights are below: Why it works for Home Buyers: No requalification after construction Interest payments during construction can be escrowed No Interest Rate risk No update to documents after construction Less paperwork across the board No new appraisal after construction Use it for Manufactured, Modular, or Stick-Built Why it works for Realtors: Commission paid before home is even built Easy Transaction without worries of inspections, appraisals, etc. Turn Vacant Land Sales into Full Property Sales Happy Borrowers and Repeat Business Why it works for Builders: Draw to Builder not delayed due to borrower behind on interest payments Project related costs are in the draw schedule and not invoiced to the Builder or Borrower Much less risk and less chance for upset borrowers Happy Borrowers Not stressed about out of pocket expenses Go to My Website for More Information!/
Location: Mortgage Matt

Comments

Mary Jaime said…
Permit me to introduce you to LE-MERIDIAN FUNDING SERVICES. We are directly into pure loan and project(s) financing in terms of investment. We provide financing solutions to private/companies seeking access to funds in the capital markets i.e. oil and gas, real estate, renewable energy, Pharmaceuticals, Health Care, transportation, construction, hotels and etc. We can finance up to the amount of $900,000,000.000 (Nine Hundred Million Dollars) in any region of the world as long as our 1.9% ROI can be guaranteed on the projects.
Le-Meridian Funding Service.
(60 Piccadilly, Mayfair, London W1J 0BH, UK) Email Contact Info...lfdsloans@lemeridianfds.com
November 30, 2018 at 8:03 AM
Post a Comment

Popular posts from this blog

Michigan First Time Home Buyers: Preparing Your Documents

I find that the first hurdle a First Time Buyer faces is getting their paperwork together. I am not sure why, but honestly this simple task dissuades many people when they start to apply. Perhaps following this list and having it ready at the outset will help the process seem smoother. Last two years of W-2s or Tax Returns. If you can’t find them, you can always contact your employer, your tax preparer, or the IRS for a copy. Most recent month of pay stubs. 1 month worth…the most recent available. Most recent 2 Months of bank statements. If you don’t get paper statements, you can print your online statements, but you will need to take them to your bank to get verified and stamped. Most recent 401k statement. (If you have one.) Copy of your driver’s license and social security card. The Patriot Act requires us to check these. Have these items ready to go before you look for a loan officer and DO NOT trust anyone that will try to quote you a payment or interest rate before they even see
Read more

Michigan Foreclosure Purchase: The Time Table to the Transaction

We have talked about a lot of different aspects about buying a foreclosure property. I realize now that I have yet to give you the most important overview people want- a timeline expectation. Let me remedy that now by explaining what needs to be done and what the reasonable expectation should be. You found your dream home, and you made an offer, now what? Well this is the second hardest time of the entire transaction- waiting to hear from the bank. This can take anywhere from a day to a week or two all depending on what bank owns the property. The best thing to do during this time is to talk to your loan officer as much as possible. Make sure you ask to actually submit your loan to the underwriter, rather than rely on a pre-approval. This is precious time to work on clearing conditions that most loan officers will squander if you let them. Your offer was accepted, what still needs to be done? Assuming you used a good loan officer, underwriting is mostly done. There are still many thing
Read more