Residential Construction Loans

	Residential Construction Loan Features: • One time close, construction-to-permanent loan. • Loans up to $3,000,000 • 100% Construction Financing up to $500,000 • Maximum 95% loan to value (LTV). • Up to 24 months to complete the construction of the home. • No "out-of-pocket" interest payments during the construction period and interest-only accrual on funds as disbursed. • Permanent financing has competitive rates for 15-year, 30-year, or 3/1, 5/1, 7/1 option Treasury ARM products. • Permanent loan rate improvement option at completion of construction. • Full, alternate and stated loan documentation loan programs. Residential Construction Loans Qualifications and Requirements: • Minimum 620 standard credit score as defined by lender. • Standard ratios are 33/38, will consider back-end ratios to maximum of 50%. • Liquid assets - two (2) months PITI liquidity. (Can be in various forms: 401K, stocks, investment accounts, bank accounts, etc.) • Approval of: Home Plans (engineered plans if required), building agreement, specifications, and Loan Budget prior to closing. • Building Department permit submittal required prior to closing. • Interest reserve and contingency funds must be included in the Loan Budget. • Construction must be completed in 24 months or less. Residential Construction Loans Program: • No money down 100% construction financing available. • Customer is the Project Manager. NO GC or PM required, customers can participate in the construction process. • Customer will obtain subcontractor bids and work with their  consultant to finalize the construction budget. Construction Loans with a General Contractor (GC): • 0% down payment option available. • General Contractor must be licensed and approved by lender. • General Contractor will supply a signed building contract and construction budget with customer. • Lender must approve construction budgets and home plans. Land Loan Features: • No Minimum down payment. • Land must be under 20 acres. • Land must be deemed zoned for single family residential construction. • Additional requirements may exist. Other Loans - Many other loan products are available: • Remodel loans • Refinance loans • Purchase loans • Bridge Loans All programs are subject to buyer qualifications and are subject to change without notice. Additional features and requirements exist and may change without notice. additional requirements may exist. We won’t drop the ball. Administrative follow-through is critical to a smooth-running venture. Draw requests are processed quickly by an experienced, dedicated staff, so your project can stay on track. To learn more call 214-387-0683 – or contact info@brown-lending.com.			Brown Lending handles all your Residential Construction Loan Needs Fill in this form and we will give you Residential Construction Loan quotes from mortgage lenders who are licensed to provide financing to TX area home builders only:    Your information will never be given or sold to anyone else. Name Email Phone Property State Select State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware D.C. Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Description of Home(s) to be Built Single Family Multi-Family Condominium Townhouse Manufactured Home Thank you for allowing us to provide you with excellent construction mortgage lending rates for Texas

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