Colorado Construction Loans

Colorado Conventional Construction Loans

Colorado Conventional Construction Loans

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Colorado Conventional Construction Loans for homeowners allows you to get into your home for as little as 5% down payment!   

Colorado Conventional Construction Loans

This Conventional Construction Loan eliminates the need to re-qualify when the home is complete.  Because this Conventional Construction Loan is only one loan. It reduces the borrower’s closing costs. The property types that are allowed for the Conventional Construction Loan are: traditional stick built homes, Modular Homes, and Manufactured Homes.  No owner builder is allowed for this loan and must be owner occupied. 

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We offer Colorado Conventional Construction Loans and mortgage lending for new construction, renovation and pre-built homes.

We earn your trust by taking the stress out of the buying/building process with our vast experience we can intelligently discuss with you the client the various options available and advise our client in the direction they should follow.

Taylor Mortgage Group is a mortgage broker that offers a variety of loan products and rates with some of the largest and best investors. A pre-qualification process can be helpful in structuring your final goal. One of the most important steps in purchasing a home is to be pre-qualified or pre-approved. An accurate credit report is a useful tool in assessing your lending options. We are there to advise and assist with any challenges. Verifying correct and up to date credit information helps us provide clients an option for debt consolidation in order to help them qualify for the price range they are interested in for their loan.

Call or email Janie today with your lending questions!

Construction Loans for Colorado Real Estate

Conventional & Jumbo Construction Loans

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Offering Construction Loans in Colorado. People have several reasons for needing a construction loan. The first and most obvious reason would be to construct. A construction loan is a short-term loan that is at a fixed rate, an interest only and is usually from 6 to 18 months in length. Taylor Mortgage Group offers construction loans on owner occupied properties as well as investment properties to build and sell home.

Construction Loans for Colorado

Construction Loans for Colorado homes and mountain properties can provide a way to remodel an existing home or to purchase an existing home that will require some additional repairs before putting a permanent loan on the property. In many instances, our construction lenders will allow the borrower to be the General Contractor/Builder. These loans are available to borrowers from city lots to large acreages and from factory pre-built manufactured homes to million dollar mansions.

Down Payment: The down payment can be as low as 10% of the total cost of the loan needed. In the case of the land loan, we may be creative as to the equity the lender will require during the construction period if cash is not readily available. The equity in your land will be credited toward the down payment required by the construction loan. It is possible, depending upon your credit package and other compensating factors, to do a loan for zero down!

Rates: The interest rate on a construction loan may vary depending, on location, credible worth, the total loan package, and is tied to the prime rate on Wall Street. The rate for construction lending has been has been as low as 3.99% to 7.5% in the past. These rates will also vary depending on whether we do a one time close or a construction then permanent loan.

Pre-qualifying

Eliminate wasted time in the purchase transaction. A pre-approval process can be helpful in structuring your final goal. An accurate credit report is a useful tool in assessing your lending options. Verifying correct and up to date credit information helps us provide clients an option for debt consolidation in order to help them qualify for the price range they are interested in for their loan. We are there to advise and assist with any challenges.

A pre-qualification can be handled by telephone. Taylor Mortgage Group will follow up the verbal pre-qualification with a secure email including a link to our loan application and credit report authorization form to be completed, signed, and returned securely. Upon receipt of your application and credit report authorization, Taylor Mortgage Group will provide an official pre-qualification letter as well as a list of items that you will need to provide to Taylor Mortgage Group to submit to the investor. Taylor Mortgage Group is diligent in meeting our deadlines and commitments. Please call us today at 303-339-5950 or use our online pre-qualification form to get pre-qualified for your home.

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Jumbo Construction Loan a One Time Close Construction Loan

Jumbo Construction Loan a One Time Close Construction Loan

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This Jumbo Construction Loan is a One Time Close Construction Loan.  It allows you to get into your home for as little as 10% down.  This One Time Close Jumbo Construction Loan eliminates the need for you to requalify when the home is complete.  The One Time Close Jumbo Construction loan is only one loan, it reduces the borrowers closing costs.  This loan product is only offered to primary and 2nd home construction.  The property types that are allowed for the One Time Close Jumbo Loan are: traditional stick built homes, Modular and Manufactured Homes.  Call for more details on this loan product. Owner builder’s are not allowed for this loan type.

Taylor Mortgage Group

Taylor Mortgage Group is a mortgage broker that offers a variety of loan products and rates with some of the largest and best investors. A pre-approval process can be helpful in structuring your final goal. One of the most important steps in purchasing a home is to be pre-qualified or pre-approved. An accurate credit report is a useful tool in assessing your lending options. We are there to advise and assist with any challenges. Verifying correct and up to date credit information helps us provide clients an option for debt consolidation in order to help them qualify for the price range they are interested in for their loan.

Please contact us for owner builder loans that are not our One Time Close product.

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USDA Construction Loan

USDA Construction Loan a One Time Close Construction Loan

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The USDA Construction Loan is a One Time Close Construction Loan.  It allows you to get into your home with no money down!  Builder approval is required and additional steps are required for builder approval.   Contingency is required in the cost to build.   The USDA loan eliminates the need to requalify when the home is complete.  Because this USDA Loan is only one loan, it reduces the borrowers closing costs.  This loan is only allowed in specific areas of the State of Colorado, so location is important to check out before proceeding.  This loan also has income limits.  The property types that are allowed for the USDA Construction Loan are: traditional stick built homes, Modular Homes and Manufactured Homes.

Call for more details on this loan product. No owner builder is allowed for this loan and it must be owner occupied. 

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Taylor Mortgage Group

Taylor Mortgage Group is a mortgage broker that offers a variety of loan products and rates. We work with with some of the largest and best investors. A pre-approval process can be helpful in structuring your final goal. One of the most important steps in purchasing a home is to be pre-qualified or pre-approved. An accurate credit report is a useful tool in assessing your lending options. We are there to advise and assist with any challenges. Verifying correct and up to date credit information helps us provide clients an option for debt consolidation. This is done in order to help them qualify for the price range they are interested in for their loan.

Call or email Janie today with your Colorado home loan or CO mortgage lending questions.

Colorado Construction Loans for Mountain Homes

One Time Close Construction Loans

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Looking for One Time Close Construction Loans? Taylor Mortgage Group has lenders that will do something that no other lender will do….a “One Time Close Loan”. The Lender can go off of the appraised value and could offer you a loan amount of 80% of the appraised value. Depending on the area and how much you have put into the land and the rising values of homes in Colorado, it has been possible to come to the table with no money down!!! (If you already own the land at the time of the application, you would be required to put down 20% of the hard costs!)

On a “One Time Close Construction Loan”, you have only one set of closing costs, one closing, one appraisal and you only pay off the portion of the loan that you have drawn. Since the lender will require a line item for cost overruns, you could actually have a permanent loan less than your construction loan.

Taylor Mortgage Group offers the fastest closing and best rates on “One Time Close Construction Loans”. Taylor Mortgage Group offers 15, 20, and 30 year fixed rate loans with no adjustable rate mortgage in a few years and no prepayment penalty. We also offer additional loan options including a 1, 3, 5, 7 adjustable rate mortgages.

Taylor Mortgage Group offers plenty of options for a One time close construction loan. The construction loan and the permanent loan are closed at one time! At the end of the construction the “One Time Close Construction Loan” modifies to the permanent mortgage (Your typical 30 year fixed mortgage).

The best news is that we lock in your rate prior to the closing of the loan, and that rate becomes an interest-only loan during the construction period. At the end of construction that same rate will convert to your fixed rate principal and interest payment. This feature offers you peace of mind during the construction of your new home, without the concern of the rates going higher by the time your home is built. Additionally, you only have to pay the interest each month, on the amount you have drawn from the total loan. If you have any further questions regarding the “One Time Close Construction Loan”, please contact Janie Taylor at our office at 303-339-5950 or directly at 303-884-9393.

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VA Construction Loans

Colorado VA Construction Loan One Time Close Construction Loan

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Our Colorado VA Construction Loan is a One Time Close Construction Loan.  It allows you to get into your home with no money down! The VA Construction Loan eliminates the need to requalify when the home is complete.  Because the VA Construction Loan is only one loan, it reduces the borrowers closing costs.  Many of the closing fees must be paid by the builder.  The builder must be registered on VA’s Website and the standard VA guidelines apply.  The property types that are allowed for the VA Construction Loan are: traditional stick built homes, Modular Homes and Manufactured Homes.

Call for more details on this loan product.  No owner builder is allowed for this loan and it must be owner occupied.

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FHA Construction Loan

Colorado FHA Construction Loan a One Time Close Construction Loan

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The FHA Construction Loan is a One Time Close Construction Loan.  It allows you to get into your home for as little as 3.5% down.  This FHA Construction Loan eliminates the need to requalify when the home is complete.  Because the FHA Construction Loan is only one loan, it reduces the borrower’s closing costs.  The borrower does not pay monthly interest payments during the construction period.  Interest is built into your loan at the beginning of your construction loan.   The property types that are allowed for the FHA Construction Loan are: traditional stick built homes, Modular Homes and Manufactured Homes.

Call for more details on this loan product.  No owner builder is allowed for this loan and it must be owner occupied. 

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Home Renovation Loans

Home Renovation Loans

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Home Renovation Loans can be obtained by Colorado home owners to repair, remodel, or renovate their properties.

Several types of FHA 203K Loans are available

  • Loans assumable to a qualified buyer with no money down.
  • 15-year or 30-year fixed rates
  • The borrower may finance up to six months of mortgage payments, or the property may be purchased, refinanced, and improved with one combined loan.
  • 1-year ARM

FHA 203K Renovation Loan, a Construction Loan, and/or Equity Loan or Line of Credit. These types of loans cover repairs or remodels of kitchens, bathrooms, plumbing, septic, additions, pop tops, or site improvement.

The FHA 203K Loan is designed to help communities and neighborhoods maintain vitality.  These renovation loans follow standard FHA guidelines and upfront mortgage insurance is not required.  This program offers borrowers flexible credit-qualifying terms with low down payments of 3.5 percent.

FHA 203K Loans, Conventional Renovation Loans, and Jumbo Renovation Loans offer many options.  The FHA 203K Loan is available to borrowers of all income levels.

Eligible borrowers for FHA 203K Loans:

  • owner occupants and
  • nonprofit organizations

Eligible properties for FHA 203K Loans:

  • single-family dwellings
  • condominiums
  • townhouses
  • mixed-use storefronts
  • 1-4 Unit buildings/homes.

(Investors are excluded for FHA 203K loans)

Conventional Renovation Loans allow investors and second-home owners to obtain Renovation Loans for greater amounts than the FHA 203K Loans.

Construction Loans

Major remodeling can be achieved through a Construction Loan.  This loan is perfect for additions or adding pools or tennis courts.  The Construction Loan is beneficial for many reasons.  Up to 100 percent of the loan-to-cost ratio can be considered.  The loans can be designed to pay house payments during the remodeling job.  Available as full documentation loans. We offer several options and creativity on structuring these loans!

Equity Loan or Line of Credit

A homeowner can also utilize an Line of Credit or Equity Loan to finance home remodeling, new additions, and landscaping projects.  Homeowners can apply for 90 percent of the value of their homes.  This option works for those with very good credit.  Some specific remodel loans which improve the home’s value are released in draws to pay for materials and/or contractors. Most are built with variable rates.

 

Need information about Home Renovation Loans? Taylor Mortgage Group is a mortgage broker that offers a variety of loan products and rates with some of the largest and best investors. A pre-approval process can be helpful in structuring your final goal. One of the most important steps in purchasing a real estate is to be pre-qualified. An accurate credit report is a useful tool in assessing your lending options. Call: Taylor Mortgage Group at 303-339-5950 or Janie Taylor directly at (303) 884-9393.

 

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Owner Builder Spec Home Loans & Mortgages

Colorado Owner Builder and Spec Home Loans

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Are you a licensed contractors in Colorado looking for Owner Builder Spec Home Loans? Taylor Mortgage Group can assist you in securing licensed contractors that have been screened for your construction needs. Some lenders will accept the borrower acting as their own General Contractor provided the owner builder has verifiable experience in home construction.

Owner Builder and Spec Home Loans

Construction loans or owner builder loans for spec homes are available both as an owner occupied property and as an investment property.

The borrowers need only to prepare the site and foundation and the manufacturer will build, deliver, and set the home. Many owner builder loans that we offer are for Factory Built homes. Construction lenders find this financing attractive due to less risk and a shorter term of construction.

At the completion of the construction loan, Taylor Mortgage Group will match you and your project with the best source of permanent funding available. Working with several local and National resources we can provide a permanent loan for most transactions. Taylor Mortgage Group specializes in construction and construction to permanent loans.

Down Payment: The down payment can be as low as 20% depending on whether or not the property will be owner occupied or built to sell. We also have a zero down program that is offered based upon the credit package and the loan to value ratios. If cash is not readily available there are several different options that we can offer the lender for equity in lieu of cash.

Rates: Our lenders for the owner builder loans will usually not penalize the borrowers in rate. Remember that construction loan rates can change daily.

A pre-qualification can be handled by telephone. Please call us today at 303-339-5950 or use our online pre-qualification form to get pre-qualified for your home.

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