Or how much more home you could afford if part of your payment didn’t have to go toward property mortgage insurance?
Did you know our lender will view your UBuildIt Owner Builder Equity just as if it was cash down?
Easier, more liberal lending terms. Better rate, better payment! You will be amazed at what we can do for you and the financial savings you will be open to with your UBuildIt Equity!
Your UBuildIt office has multiple finance options available to you!
Apply now online, or contact them directly for more information about local lenders who will provide UBuildIt clients Owner Builder financing for their construction loan… and direct transition to a permanent mortgage.
Conventional, FHA, VA and most all other lending options are available through UBUILDIT
Even remodel loans!
With one of the nation’s most aggressive lending portfolios we can even handle little to no down payment and credit scores in the low 600s.
IMPORTANT! Please don’t let your perception of your credit score or down payment limit what you think you can build or borrow!
Instead, talk to your UBuildIt Franchisee and let them help you to see exactly what is possible in your specific situation!
There are more financing options and ways to achieve your goals than you would ever have thought possible! Give yourself a chance; heck give us a chance!
Apply today, or call us first to discuss. We are here to serve you and to answer your questions.
Congratulations in advance for finding out how building with equity can make your financing easier and better!!
A construction loan is basically a short-term line of credit loan that pays off upon completion of the project when the loan is “taken out” in the form of permanent financing. The main thing construction loan lenders need to know is that you have a lender set to take out the construction loan in full upon completion of the project.
Draw is the periodic percentage of completion funding of the loan. Standard is two draws a month. Lien releases are legal protection from a subcontractor trying to request additional funding after having received payment. Lien labor laws tend to be very liberal in most states to protect the worker. Lien releases not only protect you, the owner-builder, but if handled correctly, ensure complete communication of amounts due relative to work prior to final exchange of monies. (Some lenders such as DMG include direct bill pay with your loan. They handle the draw request and manage lien release collection and monthly accounting reconciling to ensure proper payment of the bills and management of your construction loan. This service is available with other lenders—be sure to ask your UBuildIt consultant if you have any questions. The fee for such service is usually structured in as a part of you closing cost.)
Select a Lot loan to finance the purchase of a residential lot for future construction of your primary residence or second home. When you are ready to build, a lender can help you with your Construction-to-Permanent loan.
Don’t wait to sell your old home before building your dream home. You can access equity in your current home to use as the down payment on a Construction-to-Permanent loan.
Ask about a Remodeler Loan designed for the homeowner who is making a major improvement to their primary residence. This unique second mortgage calculates the value of the home by adding the value of the planned improvement to the home’s current value. You get immediate access to the construction funds at loan closing. That means more dollars are available to style your home.
When your down payment is less than 20%, you usually have to pay for Mortgage Insurance, (PMI). This protects the lender in case you don’t make your house payments, they repossess your house, and they have to sell it for less than the amount left on the loan.
Now, find the local UBuildIt office and contact them about their lenders and how to complete that dream home of yours. Just click on the Locations tab to get started!
Your local UBuildIt franchisee will have other lending options available as well that are unique to your state and market so feel free to explore your options.
Also, You may already have financing lined up and prefer to stay with your preferred lender. If so then please do! Remember we are UBuildIt and we are construction consultants…we don’t make money from your vendors, so please use whomever you prefer! We are happy to work with any vendor of your choosing, including your lender!
You may want to procure your loan locally, your local UBuildIt office will gladly introduce you to local lenders with whom they already have a relationship.
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