Inventory is Reducing…Time to build?
Construction Permanent loans and Foreign National programs:
Construction to Permanent financing is alive and well. Although the exotic $0 down and $0 payments during construction may be an extinct product, competitive loans with great rates still exist in this segment. For instance, we are offering a 20% down, One Time Close, Construction loan to Permanent loan for a Primary Residence at rates as low as 4.25% during construction and 4.25% at completion. For a second home buyer we offer a 25% down, One Time Close, with the same rates as a Primary Residence. Payments during construction are interest only payments on the amount drawn by the builder. Kind of like how a credit card or Home Equity Line works, thus keeping the payments nice and low while the home is being built. With the inventory of Lee County Florida reducing month to month, know might be the time to move toward building your next dream home.
The other segment that has seen some growth in our area is buyers from foreign countries. Especially those from Canada, the UK, and Germany. We still offer loan products for those buyers as well. 30% down, rates as low as 4.5%, and all they need to do is be able to prove they can afford the home and have a minimum foreign credit score of 700. If you are from any of the above area’s and would like to purchase a home, look know why we have these great financing options available.
Posted on June 18, 2012, in Finance and tagged Buy a Home, Buyer, Canada, Closing, Closing Costs, Contruction Permanent Loan, Finance Me, Foreign National Program, Genesis Lending Group, Germany, Home Equity Line, Kara Holleran, Lender, Loan, Mortgage, Primary Residence, Property Guiding, Real Estate Financing, Realtor, SWFL Real Estate, UK. Bookmark the permalink. Leave a comment.