New home construction loans do not have to be stressful!
Virginia Mortgage Services makes getting a new home construction loan stress free, after all you have enough to concentrate on! Right? Whether you are building your dream home, or a builder interested in financing new construction, Virginia Mortgage Services can help. Construction financing resources from Virginia Mortgage Services can help free up time to build, pack, and move in.
Virginia Mortgage Services one of the top mortgage brokers in
Virginia. VMS offers low mortgage rates and a full menu of low interest home construction loans including conventional, FHA home construction loans, VA, stated income, second homes and investment property loans. We have loans that allow
interest only payments during the construction phase of your project, then convert to a traditional mortgage after construction is completed. We will work closely with you to help you choose the best new home construction loans for you. At Virginia Mortgage Services we walk you through step-by-step to make your construction loan process easy.
Should I get a New Home Construction Loan?
Before you start shopping for a new home construction loan there are a few things you should consider. First, you should decide if you want the loan to cover just the construction phase of your project, or a loan that covers the construction costs and then converts to a traditional mortgage thereafter. Second, it may make sense to pay points and closing costs to get the lowest available interest rate. Third, you can avoid out-of-pocket closing costs
and still get a low interest rate by adding the points and closing costs to your loan balance. Also you need to consider the current mortgage rate environment and whether to lock your mortgage rate now during the complete construction phase. Depending on the anticipated length of the construction phase this could cost you extra money, so you need to be prepared.
Applying for New Home Construction Loans
Use our secure online application home construction loans. You will need to answer some basic questions regarding your employment, income, and finances. If you have any questions regarding the loan application you may contact us at 804-282-8808 or take advantage of our Live Chat Service at the top of this page. We will contact you within 24 hours to discuss the details of your loan, and assist you with choosing a loan program that best fits your needs and put you well on your way to completing your dream home.
There are a variety of factors to consider when choosing a new home construction loan program: interest rates, your credit history, etc. The good news is you won't have to figure all of this out on your own. We will work with you to evaluate all the factors, and choose the best mortgage loan program for you.
Construction Loan Closing
The closing is the final stage. At the closing you will sign the legal documents. You are now ready to start building your new home! We have secured low interest home construction loans and new home construction loans for many individuals. Give us a try, we can help you get a great loan. Some features include:
-
Borrower and Builder attend one closing
-
Borrower may qualify and close on Construction Loan without selling current residence until completion of new home. Flexible Draw Schedule.
-
Builder eligible for a deposit at closing (10% Max)
-
Loan amount based upon total acquisition costs
-
Contractor can include all closing costs and interest in total price. This avoids out of pocket expense from home buyer
-
Multiple contracts allowed and will be combined for total acquisition. (i.e. house, pool, lot, boat dock, retaining wall.)
Lets Get Started!
Use our online loan application for home construction loans! You may also contact us at Virginia Mortgage Services and get a home construction loan quote with additional questions concerning home construction loans.
Home Construction Loans - New Home Construction Loans
|
