Home Construction Loans
City 1st Mortgage offers a variety of home construction loan programs including VA, USDA, FHA, Conventional, and Jumbo 1-Time Close options throughout the State of California.
(866) 655-0466
Our Construction Loan Options
With our 1-time close construction loans, you can finance the cost of the lot, the build, and the permanent loan into a single loan! This helps you save time and money by not having to deal with multiple loans and closings.
FHA loans allow up to 96.5% financing and VA and USDA loans will finance up to 100% (not including he the VA funding fee or USDA guarantee). And, no payments are required from the borrower during the construction phase.
We also offer a 1-Time Close program for conventional loan amounts and a Jumbo Construction Loan program for loans up to $3,000,000.
Not sure which option is right for you?
Call us today at (866) 655-0466 for a free quote and consultation.
Request Information on Our Construction Loan Programs
FHA, VA, & USDA Home Construction Loan Highlights
FINANCING ELIGIBILITY
Financing options: FHA, USDA, and VA
Maximum LTVs:
– FHA: 96.5%
– USDA: 100% of market value
– VA: 100% not including VA funding fee
620 minimum qualifying credit score
ELIGIBLE PROPERTY TYPES
– FHA: multi-wide manufactured housing, modular housing,
1-unit stick-built housing
– USDA: new multi-wide manufactured housing,
modular housing, 1-unit stick-built housing
– VA: new multi-wide manufactured housing, modular housing, 1-unit stick-built housing
(866) 655-0466
Other Conventional & Jumbo Construction Loan Programs
FEATURES & BENEFITS
– 90% LTV for conventional loans
– 85% LTV on Jumbo loan amounts up to $1,000,0001
– 70% LTV on Jumbo loan amounts up to $3,000,0002
ELIGIBLE PROPERTY TYPES
– 1-unit site-built homes
– Planned Unit Developments (PUDs)
– Modular homes
– Site condominiums
– Rural properties
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City 1st Mortgage Services, LLC. (www.nmlsconsumeraccess.org) is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.
