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| Which loan is right for me? |
Years
in
the house |
Recommended
Program |
| 1 - 3 |
3/1 ARM, 1year ARM or
6 month ARM |
| 3 - 5 |
5/1 ARM |
| 5 - 7 |
7/1 ARM |
| 7 - 10 |
10/1 ARM, 30 year fixed or
15 year fixed |
|
|
Owner Builder Construction Loans
Construction to Perm, Owner Builder with License.
If you are a licensed contractor in the home building business such as an electrician, plumber, framer, etc most of our best lenders/banks provide construction to perm loans for 30 year fixed, 3/1, 5/1, 7/1, and 10/1 ARM's. The most important thing to note is that the best banks with the best rates are now requiring owner builders in the business to provide 2 years tax returns to qualify for the loan.
The home that you are building will need to be your primary new home and to qualify as owner builder you must also provide references and trade references.
Construction to Perm, Owner Builder with Management Contract.
This construction to perm construction loan allows you to qualify as owner builder if you hire a licensed contractor to manage the construction of your new home. Our best lenders/banks provide construction to perm loans for 30 year fixed, 3/1, 5/1, 7/1, and 10/1 ARM's.
The above loans are available for qualifying as full documentation, stated income, no ratio and reduced documentation. Call for details.
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