Inventory in the housing market has gotten tight, so many savvy buyers are now looking at building their own custom homes. BrandMortgage announced an enhancement to our one-time close conforming construction loan\ today. Our clients can now borrow as much as 95% of the cost to purchase the land and build their new home on loan amounts of up to $510,400.
This means you can build a brand-new custom home with only 5% down! This construction mortgage is a one-time close product that will modify into a 30 year fixed-rate mortgage once construction is complete. The great part is that you only pay one set of closing costs, and do not have to refinance the construction loan once your new home is complete. This can save you literally thousands of dollars in fees.
The rate you close with is guaranteed for 12 months, and has an option for a rate float-down if mortgage rates have fallen by the time construction is complete. If you are thinking about building a home in Brunswick, Saint Simons, Jekyll Island, or anywhere else in Southeast Georgia (or any other Southeastern state, for that matter), call me at 912-771-2115 or Apply Online Now to get the process started.