Loan Products and Programs | Construction Loan

  • December 2019
  • Posted By: Michael Leake

Construction Loan near Virginia Beach or within Virginia?

There are many different mortgage providers, from globally known brands to more localized institutions. The range of choice means that you need to do a bit of research in advance to understand how to make an educated decision about which loan suits your financial needs.

Construction Loan

Loan Products and Programs - Construction Loan

This custom-tailored loan product offers clients the chance to both build and finance the home of their dreams with only 10% down.

Introducing the one-close construction loan. Waterfront views. Game rooms. Granite countertops. Mechanic’s garages. Everyone has their own ideas of what a perfect home is like, but let’s face it—they’re not always available on the market. This custom-tailored loan product offers clients the chance to both build and finance the home of their dreams—all with just one application and one closing. Not many lenders offer this unique loan product, so partner with Brazos National Bank to offer your clients a much simpler way to build and finance their home.

Construction Loan Benefits

Features and Benefits

  • 70% LTV with no re-qualification required post-construction
  • 90% LTV option with requalification required post-construction
  • Loan amounts up to $484,350, or more in high balance areas
  • Rate can be locked at any time during the loan application/process
  • Simple and flexible draw process with no set schedules
  • Pay just interest-only payments during construction

Renovations available on existing homes Loan types and terms

  • 15-year conventional
  • 30- year conventional Eligible properties include
  • 1-unit site-built homes
  • Planned Unit Developments (PUDs)
  • Modular homes
  • Site condominiums
  • Rural properties

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Benefits

    15-year mortgage

  • 15-year mortgage - 15-year conventional
    • Posted By: Michael Leake
    • 6 months ago

    30- year mortgage

  • 30- year mortgage - 30- year conventional Eligible properties include
    • Posted By: Michael Leake
    • 6 months ago

    1-unit

  • 1-unit - 1-unit site-built homes
    • Posted By: Michael Leake
    • 6 months ago

Allow us to finance your Ashburn dream home or refinance a new Virginia home.