We love to see a project go from start to finish especially the ones being build from the ground up!
If you are planning an upcoming project, use this simple formula to estimate your max loan amount:
Cost of Land + Construction budget = Total Project Cost
Total project cost X 80% = Max loan amount for a Single Family Residence (SFR)
Total project cost X 75% = for anything other than a SFR owner occupied
These are some basic guidelines you can follow to estimate you max loan amount but remember, having excellent credit, a good amount of equity, and a great location can make all the difference!
Call me to run your loan scenario by me and get a free quote and consultation.
Contact me directly at (858) 732-2320 or email me at cpatterson@valorlending.com. I am here to help and as a loan officer, it is my fiduciary duty to make sure I provide you with the highest standard of care during the loan process.
Check out some of my latest blog post:
What’s going on during the underwriting process?
Camille Patterson /Valor Lending Group / 858-732-2320 / CPatterson@ValorLending.com
Recap of our Loan Products:
2). Foreign Nationals Loans (no social security or residency required) 35% down / Foreign passport / Document income outside US
3). Hard Money Loans (28-35% down / minimal documentation) Fund in 7-10 days. 480+ credit score
4). Raw Land and Construction (Bridge Loans) including Spec Home! 75% loan to cost (cost of land and construction budget)
5). 3% down Conventional (Lender paid PMI)
7). Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
8). Flipper Loans (Flip a property with one of our many options) 30% down we finance acquisition and rehab funds / 1-2 year terms
9). 10.1% down Jumbo’s with NO MI up to $2.5mm
10). Manufactured Housing / Mobile Homes (20% down / 620+ credit score) must be tied to real property/Must be at least double wide/Must be built after June 15th 1996 /
11). Acreage Properties
12). Commercial Loans up to $100mm / Purchase and Refinance Loans 25-35% down depending on property, credit etc. (Almost all property types)
We also offer:
1). 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $424k) 30 year fixed
2). High Balance Conforming aka Super Conforming (from $424k-$636k) 30 year fixed
3). Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $2.5mm
4). FHA, VA, USDA
5). ARM’s
6). Reverse mortgages up to $10 Million Value
7). Refinance including Cash Out
I am able to take a Loan Application on a moment’s notice & will be happy to provide Pre approval letters.
Please do not hesitate to call on me on each and every scenario and we will ID best programs.
Camille Patterson
Loan Officer
CaBRE# 02035349
NMLS# 1517035
Valor Lending Group
“Pride in Lending”
Petco Park
Direct: (858) 732-2320
Office: (619)344-2640
Fax: (619) 872-2400
cpatterson@valorlending.com
Biography and Blog
