When starting from scratch, homeowners can customize their home exactly how they want it. Finding the money to build a more expensive home might be difficult, but the experts at SteveKnowsLoans can help with their jumbo construction loans. We provide a way to finance your dream home with low interest rates, a single closing cost, and interest-only payments while your house is being built. Permit, engineering, and architect fees can all be included in the financing of your building project with the help of our jumbo construction loans.
An Overview of Jumbo-Sized Building Loans
We collaborate with borrowers to personalize large construction loans so that they can meet the requirements of individual projects while staying within their budgetary constraints. Our loans offer a variety of benefits, such as:
- Single-family homes, PUDs, site-based condos, and modular buildings all qualify.
- High-balance loans with a $424,101 minimum loan amount have a loan-to-value ratio of 90%.
- Loans are made to both current property owners and those who do not yet have legal title.
- The typical duration of a construction project is between six and twelve months.
- During the building phase, only interest is due.
- Borrowers save money on closing fees thanks to a single closing and an amended note that converts the loan into an amortized loan with principal and interest payable over the chosen repayment term.
- There are both 30-year and 15-year repayment plans available.
Collaborating with our team of mortgage experts
Borrowers can put their trust in us because our mortgage loan originators are seasoned pros when it comes to jumbo construction loans. We coordinate closely with the borrower’s builder to guarantee that the loan program’s underwriting standards are met by the building contract.
The draw schedule and other loan terms are thoroughly explained to the borrower and the builder during a thorough examination of the construction loan guide. The money borrowed is used to pay for construction in 3, 5, or 7 draws.
Learn how SteveKnowsLoans can aid your situation.
SteveKnowsLoans provides customers with the opportunity to secure jumbo construction loan financing, allowing them to develop their ideal house. Contact one of our mortgage loan originators at (813) 616-9411 to learn more about the mortgage products we provide.
Call Steven Jackson at 813-616-9411 now!
