FNMA Conventional Construction Loans
• One-time close
• Owner occupied 1-unit
• Interest-only during construction
• Primary residence
• Up to 95%
• 680 minimum credit score
FNMA Construction Only Loan
• Two-time close
• Interest-only during construction
• Up to 15-month build time
• Up to 90% LTV
• 700 minimum credit score
FHA Construction Loans
• One-time close
• Owner occupied 1-unit
• Interest payments can be made by borrower or builder
• Up to 96.5% LTV
• 660 minimum credit score
USDA Construction Loans
• One-time close
• Owner occupied 1-unit
• No payments for buyer until build is complete
• Up to 100% LTV
• 660 minimum credit score
VA Construction Loans
• One-time close
• Owner occupied 1-unit
• No payments for buyer until build is complete
• Up to 100% LTV
• 660 minimum credit score
Renovation Loans
• FNMA Homestyle
• FHA 203k
Cap Rate Advantage Program
• One-time close
• Available for conventional, FHA, and VA
• Up to 12-month build time
• Borrower must qualify for capped rate (above
market rate)
• Borrower can have ability to reduce permanent rate
with certain criteria being met
Non-QM Construction Loans
• One-time close
• Up to $2M
• Primary, secondary, and investment properties
• Interest-only during construction
• No mortgage insurance required
• 85% LTV with 720+ FICO
• 80% LTV with 680+ FICO
Doug Thaler NMLS # 1826020
561-665-1477
doug@nmbnow.com
All program descriptions are for informational purposes. This communication is not intended to promote any specific loan program or
product nor intended for consumer use. The details of any specific loan scenario shall be set forth in a written loan estimate as required by
law. Not affiliated with the FHA/HUD or any other government agency. Subject to credit approval. This is not an offer to make a loan or to
make a loan on any particular terms. All loan applicant’s must qualify under the underwriting requirements and satisfy all contingencies of
loan approval. !©2023
