If you want to build your dream home but you're having a hard time meeting the requirements of a conventional loan, we've got good news for you. An FHA Construction loan provides you with more flexible lending requirements, giving moderate-income families the opportunity at custom-homeownership.
Let's find out how an FHA Construction loan can help you buy land and build your house the way you envision it.
Also known as a "3 in 1 mortgage," an FHA Construction-to-Permanent loan finances the whole home construction process with one loan product. It covers all expenses concerning home construction and provides the permanent mortgage for the newly built home.
An FHA Construction loan takes care of all the costs involved with construction, including the land, permits, plans, fees, labor, and materials. This is excellent news for FHA borrowers who may not have extra funds to buy land or apply for a second loan.
Once the home is complete, the construction loan will roll into a traditional mortgage.
When looking for the land purchase, make sure that it doesn't require a teardown or building of multiple properties. It should be vacant land, essentially ready to build a home from the ground up.
Before starting building, you need to get pre-qualified for your construction loan to know your borrowing limits. This will help you create a budget for the entire project.
The builder you select must be willing to work with the FHA Construction Loan program. Aim to work with a builder who already has experience with FHA construction loans as well as one that has an excellent track record.
Once you've chosen your land and builder, you can now close your loan application so that construction can begin.
An FHA Construction Loan makes financing your custom home more accessible. To get started, all you need to do is find a licensed builder in your area and work with us for all your FHA financing needs. Ask one of our trusted mortgage advisors for more details.
This licensee is performing acts for which a real estate and mortgage license or consumer loan license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; Washington Office Department of Financial Institutions, DFI# CL-135622; NMLS# 135622 Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by borrower. Loan is only approved when lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of California and Washington.
As a broker, C2 Financial Corporation is NOT approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders.
Corporate Website:
www.c2financialcorp.com
NMLS Website:
www.nmlsconsumeraccess.org
304 Vista Del Mar, Suite E Redondo Beach, CA 90277
Office Phone: (310) 890-6459
Michael Mardesich 
Broker (310) 890-6459 cell mike.mardesich@gmail.com BRE#: 01053119 NMLS#: 242591
Frank Kostrencich Senior Loan Officer
(310) 344-8910 Cell fmkost@gmail.com BRE#: 01024274 NMLS#: 238594
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