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VA - One Time Close Construction Guideines
For Stick Built, Manufactured and Modular properties:
Finance the construction, lot purchase, and permanent mortgage all with a single One-Time Close loan. No Re-Qualification. No Second Appraisal.
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100% Loan to Value - No Money Down
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620+ Credit Score needed for this Program (We have credit clean up programs if needed)
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$150,000 min. Loan Amount to VA Loan Limits (above the VA loan limit allows 25% down of the difference)
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10, 15 and 30 year Terms
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Owner Occupied Only (No Investment or 2nd. Homes)
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Residential Properties Only: 1 Unit (Condos, Manufactured & Modular allowed)
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No Payments during construction
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No Re-Qualification once the construction is complete
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Single Closing reduces closing costs
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Closing Process generally takes around 60-90 days to begin construction
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