Eugene Mortgage News

Are you looking to build your dream home?

January 19th, 2018 9:18 AM by Mike Herborn

Are you looking to build your own home and need a construction loan? There have been new updates to the requirements for construction loans that will make building your dream home more attainable! These new updates include:

  • Now as little as 10% down with a maximum loan-to-value (LTV) of 90%.
  • Six, nine, or twelve-month construction term programs allowing for payment of interest only during construction.
  • Tear-down and major renovation construction eligible for twelve-month construction period.
  • Soft costs (architectural, engineering, and permit fees) may be financed.
  • Offering 15 or 30-year loan terms.
  • Eligible property types are: 1-unit site-built homes, Planned unit development (PUD), Modular home, Site condominium (detached), Rural properties, Tear-downs & major renovation.

Give us a call at 541-683-3300 and we would be happy to answer any questions you may have! 

Posted in:General
Posted by Mike Herborn on January 19th, 2018 9:18 AM