Ground Up Construction is here | Valor Lending Group
30 Year Fixed Conventional One-Time Close New Ground Up Construction Is Back!!!!
AS LOW AS 5% DOWN!!!!
Valor Lending Group is proud to announce that 30 Year Fixed Conventional One-Time Close New Ground Up Construction is back in our rotation for California residences with the lowest rates around!
If you are looking to build your forever home, your dream vacation home or start your real estate journey and build an investment property, Valor Lending Group has got you covered!
What is a California One Time Close Construction Loan?
- A One-Time Close Ground Up Construction loan is a single closing transaction. Short-term financing, interest only payments during construction, which converts to long term financing after the construction is completed. This transaction can be a purchase or a refinance.
What is a single closing?
- A single closing transaction or loan is the combination of financing of the construction and the permanent financing after completion of the project.
- Just as a normal residential purchase, closing costs, fees, and down payment are brought to the closing. After the close the funds for the construction project are accessed through draws.
30 Year Fixed Conventional One-Time Close New Ground Up Construction Highlights
- Conventional 15- and 30-year Fixed
- Conforming and High Balance
- Conventional 7/6 and 10/6 ARM
- Conforming and High Balance
- Primary, second home and investment properties(2-4)
- Fannie Mae only
- DU Findings must be approve/eligible
- Min FICO = 700
- Max LTV/CLTV/HCLTV = 95%
- Max LTV/CLTV/HCLTV for = 85% for investment property
- Maximum Lock Period = 90 days
- Project and builder/contractor must be approved lender
- 11 month maximum build period with 1 month modification period
- Credit documents cannot exceed 12 months at the time of modification
- 75bps adjustment applied at time of lock to the rate listed on the rate sheet
- $1495 underwriting fee
- Only weather related escrow holdbacks permitted
- Not eligible for co-ops, attached condos and manufactured homes
- No Temporary Buydowns
- No Principal Reductions
- We can build the home of your dreams!
What is ground up construction financing?
A ground up construction financing provides a financing solution to construct a wide variety of real estate properties. They can be single family, multi-family, and mixed use projects. The are short term financing solutions that can be used to cover the purchase and construction of the property or costs of construction. A licensed and bonded general contractor will assist you with plans, entitlements, and get your property shovel ready while solidifying the financing to get the project started.
Valor Lending Group has a number of lending solutions and options allowing you to choose the right route to take to secure the luxury property of your dreams.
How Do You Qualify Ground Up Construction Loans?
You would qualify for a Ground Up Construction Loans in the same way as a conventional or high balance loan with a few additional qualifications. Such as, but not limited to completed projects in the three years, the loan to cost evaluation, and/or after completed value.
Valor Ground Up Construction Highlights:
- Up to 90% LTC
- Max Loan Up to $20 Million
- Flexible Guidelines
- 12 to 24 month Interest Only Interest Rates
- Valor boasts the very best communication, service, rates and performance in the industry
- Valor ensures the very best pricing by shopping with many direct lenders so you don’t have to!
Who Is A Ground Up Construction Loan Right For?
At Valor Lending Group, we have Ground Up Construction Loans perfect for the seasoned construction borrower to first time buyer who wants to build that luxury home they always wanted.
In addition, we also offer full documentation low rate loans, stated income loans, and hard money loans.
Valor Lending Group also offers:
- Bank Statement Loans
- Hard Money Loans
- FHA Loans
- Doctor/Dentist/Vet Loans
- VA Loans
Call or email me for immediate attention to your scenario!
Valor Lending Group can fund your fast-hard money loan up to $10mm in as little as 7 days often without an appraisal.
Please do not hesitate to call or email me with any scenarios.
I look forward to an opportunity to demonstrate my prompt and professional service.
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s up to $1.5mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans
- High Balance Conforming aka Super Conforming
- Jumbo’s to $10 Million / 10% down Jumbo to $1.5mm
- FHA, USDA
- ARM’s
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
VALOR LENDING GROUP OFFERS EVERY MORTGAGE LOAN IN THE BOOK
**Rates and terms subject to change without notice**
We look forward to the opportunity to serve you!
CONTACT ME TODAY for immediate attention to your scenario!
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