Financing in Tampa>Question Details

JessicaTaylo…, Home Buyer in Atlanta, GA

Construction to Permanent loan with 10% down.

Asked by JessicaTaylor2425, Atlanta, GA Mon Apr 8, 2013

Anyone familiar or work with these Construction to Permanent loans? A reputable builder advised us this weekend this was an option coming around to put 10% versus 20% down. Thanks!

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Lisa Lowe’s answer
Some builders have an affiliate lender or joint venture loan programs for new construction and offer less than 20% down.

Be sure to compare CP loan programs before committing in writing. Check terms (i.e. 30-yr fixed, 5/1 ARM), points/origination fee, interest rate, draw inspection fees, construction administration fees, etc.

Best regards,
Lisa
0 votes Thank Flag Link Mon Apr 8, 2013
20% is the norm, I have not heard of 10% programs.
0 votes Thank Flag Link Mon Apr 8, 2013
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