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Custom Home Construction Perm Loans

How do you get a low down-payment construction loan?


Inventory in the housing market has gotten tight in Glynn County and elsewhere, so many savvy buyers are now looking at building their own custom homes. What’s better than making offer after offer on existing homes that you don’t really like for more money than you want to spend? Building your own custom home with low down-payment construction perm loans, of course!

There’s a myth that all construction loans require a 20% down-payment, but Capital City now offers multiple one-time close low down-payment construction-perm loan programs.

Family discussing a construction permanent loan

Down-payments as low as 3.5% for FHA on loan amounts up to $420,000 are available. We also offer a conventional construction-perm loan. The conventional construction-perm loan allow you to borrow as much as 95% of the cost to purchase land and build a new home on loan amounts of up to $647,000. If you already own your land, you may not even have to bring any money to closing!

This means you can build a brand-new custom home with potentially no money down.

Additionally, we also offer jumbo construction-perm loans up to $3,000,000. The down-payments requirements differ somewhat for the jumbo construction-perm loans depending on your application, so it’s best to contact me to discuss loan amounts over $647,000.

These construction mortgages are a one-time close product that will modify into the term of your choice once construction is complete. In addition to the low down-payment, you only pay one set of closing costs and do not have to refinance the construction loan at the end. Using our program that modifies your construction loan instead of refinancing it can save you literally thousands of dollars in fees.

The rate you close with is guaranteed for 12 months and has the option to float-down if mortgage rates have fallen by the time construction is complete. If you are thinking about building a home in Brunswick, Saint Simons, Jekyll Island, or anywhere else in Georgia, Florida, South Carolina, Tennessee, Alabama, North Carolina, or any other Southeastern state, call me at 912-771-2115 or Apply Online Now to get the process started.

Stephen Moreno
Mortgage Consultant

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