USDA Construction Loan a One Time Close Construction Loan

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. 

 

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.