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Please call 1-800-886-7936 for the latest rates
Whether you're planning to build your dream home or just thinking about it, we can help. We can answer your questions, and guide you through the loan process. We'll be with you every step of the way from framing your front door to turning the key. At Ryan Mortgage Group, we're home construction lending experts. We can answer your questions and your builder's questions so your project keeps moving smoothly from groundbreaking to housewarming. Our Construction-to-Permanent Loan is based on ordering an appraisal based on the future value of the home. That's right I said future appraised value of you home. We can lend 95% of the future appraised value of a primary home. The construction loan is based on the actual cost which can include the purchase of the land.
We can offer new construction loans on the following property types:
- Primary Homes
- Second Homes
- Modular Homes
- Complete Rehabilitation
This means with one application, you get all the financing you need in two easy processes your construction and permanent loan. All fees and points will be built into both mortgages. Based on the project if it has enough value we can finance your land and wrap your closing cost into your construction loan up front. Below you will find the list of items you will need to get your construction loan started.
- Plans and Specifications
- Plot Plan
- Proof of a Land contract or a Deed
- Proof the Land is build able from your local Building Inspector
- Title Commitment
- Homeowners Insurance
- Line item list of all cost to build your project
Terms of the construction loan are up to one year. The loan programs offer interest only (up to 5 draws) 30-year amortization or no payments during the construction process. You can view the entire loan process on line from your home. The checks will be delivered to you to pay your contractor or yourself if you decide to GC the project.
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