Earnest Haynes
Earnest Haynes Residential Mortgage Loan Officer Call Today (803) 387-0447

Is a Construction Loan Right for You?

Get a Quote on a Construction Loan. Get Started Today!

One-Time & Two-Time Options Available

CONVENTIONAL

  • Conforming loan amount
  • Max loan to value 95% with a minimum credit score of 680 (Primary Residence)
  • Primary or Secondary Home 1 unit SFD
  • No requalifying at modification within the 9 month construction term (Lender will verify employment at time of modification)

FHA

  • Loan amount per FHA county loan limit
  • Max loan to value 96.5%
  • 15 & 30 year fixed rate option
  • Primary owner occupied 1 unit
  • Minimum credit score 600
  • No requalifying at modification

VA

  • Max loan to value 100%
  • 15 & 30 year fixed rate option
  • Primary owner occupied 1 unit
  • Minimum credit score 600 (Subject to Veterans Eligibility)

UP TO 95% LTV

  • NO LENDER RETAINAGE
  • FLEXIBLE DRAW SCHEDULES
  • COMPETITIVE RATES AND FEES
  • CREDIT SCORES DOWN TO 600
  • NTEREST ONLY PAYMENTS DURING CONSTRUCTION
  • LOT EQUITY ACCEPTED FOR DOWN PAYMENT ON MOST PROGRAMS

TERMS FOR ALL PRODUCTS

  • Specialized underwriting and processing
  • Closing turn time within 30 days of receiving contract, plans and specs
  • Simultaneous close for lot purchase and construction financing available
  • 9 month construction term
  • No BOR's (Builder of Record). A builder in the industry will be required on all transactions
  • Monthly payment due during the construction phase will consist of accrued interest only
  • Interest only during construction with competitive rate
  • One closing = less closing costs

All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Guidelines subject to change.
VA loan subject to veteran's full eligibility.
USDA Program is for primary residence only and Income and Geographic limits apply.