Financing in Canton>Question Details

sk2, Home Buyer in Canton, OH

I'm looking for a lot loan and construction loan in the area that allows low down payments and low closing costs. Do these exist?

Asked by sk2, Canton, OH Fri Sep 14, 2012

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If you would like, we could meet and go over stuff. I have a couple of lenders that might be able to help you out. Let me know what works for you :)
0 votes Thank Flag Link Fri Sep 14, 2012
This is to Notify you that Mr George Dickson is Currently offering
Loan to the needy at a low rate 0f 4% if you are interested contact
georgedickson9@live.com
FILL THE BORROWER'S INFORMATION
Your Name _____________________
Your Address:____________________
Your Country:____________________
Your Occupation:__________________
Loan Amount Needed:______________
Loan Duration:____________________
Monthly Income:__________________
Cell phone Number:________________

Mr George Dickson
0 votes Thank Flag Link Sat Mar 9, 2013
Hello,

I'm Shawn Pearl and if your still in need of that lot/construction loan we can help, please review below:

NO UP-FRONT FEES ONLY COST IS THE APPRAISAL

Lot Loan Parameters

80% LTV Max (Purchase)
70% LTV Max (Refi)
Current Rate: 4% @ 0 points
720 Fico up to 80% LTV
700 Fico up to 70% LTV
50% dti to 80% LTV
45% dti to 70% LtV
80% LTV to a $300,000 Loan Amount
75% LTV to a $400,000 Loan Amount
70% LTV to a $500,000 Loan Amount
Above a $500,000 Loan Amount is case by case
3/1 ARM
CMT Index
1 Lot loan per borrower unless they are right next to each other

Construction Loan Parameters

80% LTV to 1 Million
75% LTV to 1.5 Million
70% LTV to 2 Million
60% LTV to 3 Million (In Some States)
Above a $3 Million Loan Amount is case by case
Current Rate: 3.25%
Points: 0
Primary Residence and Second Home Only
Need 720 Fico for 80% LTV
Need 680 Fico for 70% LTV
50% Dti to 70% LTV
45% Dti to 80% LTV
Lend off of Lower of Cost or Appraisal on New Construction
Lend off of Future Appraised Value on Rehab, Remodel, Tear Down

Best Regards,

Shawn K. Pearl
CEO

SFA---Specialty Funding & Associates
s_d_pearl@yahoo.com
Baton Rouge, LA.
Office: 225.372.9780
Hours: 9:00am-9:00pm Mon-Sat
206.203.3177 Voice Mail/E-Fax

The information contained in this e-mail message is confidential and is intended only for the designated recipient(s). This e-mail message may be an investor-client communication and, as such, is privileged and confidential. If the reader of this e-mail message is not the intended recipient (or the person responsible for the delivery of this e-mail message to an intended recipient), you are hereby notified that you have received this document in error, and that any reuse, review, printing, dissemination, distribution or copying of this message is strictly prohibited. If you have received this e-mail message in error, please reply to the sender that you have received the message in error and delete it without printing it or making any copies of it. Thank you.
0 votes Thank Flag Link Fri Dec 21, 2012
If your still in need of that lot/construction loan please see below:

NO UP-FRONT FEES ONLY COST IS THE APPRAISAL

Lot Loan Parameters

80% LTV Max (Purchase)
70% LTV Max (Refi)
Current Rate: 4% @ 0 points
720 Fico up to 80% LTV
700 Fico up to 70% LTV
50% dti to 80% LTV
45% dti to 70% LtV
80% LTV to a $300,000 Loan Amount
75% LTV to a $400,000 Loan Amount
70% LTV to a $500,000 Loan Amount
Above a $500,000 Loan Amount is case by case
3/1 ARM
CMT Index
1 Lot loan per borrower unless they are right next to each other

Construction Loan Parameters

80% LTV to 1 Million
75% LTV to 1.5 Million
70% LTV to 2 Million
60% LTV to 3 Million (In Some States)
Above a $3 Million Loan Amount is case by case
Current Rate: 3.25%
Points: 0
Primary Residence and Second Home Only
Need 720 Fico for 80% LTV
Need 680 Fico for 70% LTV
50% Dti to 70% LTV
45% Dti to 80% LTV
Lend off of Lower of Cost or Appraisal on New Construction
Lend off of Future Appraised Value on Rehab, Remodel, Tear Down

Best Regards,

Shawn K. Pearl
CEO

SFA---Specialty Funding & Associates
s_d_pearl@yahoo.com
Baton Rouge, LA.
Office: 225.372.9780
Hours: 9:00am-9:00pm Mon-Sat
206.203.3177 Voice Mail/E-Fax

The information contained in this e-mail message is confidential and is intended only for the designated recipient(s). This e-mail message may be an investor-client communication and, as such, is privileged and confidential. If the reader of this e-mail message is not the intended recipient (or the person responsible for the delivery of this e-mail message to an intended recipient), you are hereby notified that you have received this document in error, and that any reuse, review, printing, dissemination, distribution or copying of this message is strictly prohibited. If you have received this e-mail message in error, please reply to the sender that you have received the message in error and delete it without printing it or making any copies of it. Thank you.
0 votes Thank Flag Link Fri Dec 21, 2012
There are some options for someone in your position as far as financing goes. I see Kate posted to get together with her. I highly recommend her. She is easy to work with, knows her stuff, and has a great personality. And this is coming from me- another agent!! Good luck!
0 votes Thank Flag Link Sat Sep 15, 2012
You're so awesome Esta! Thanks for the recommendation :)
Flag Sat Sep 15, 2012
Typically you'll need 20% of the entire cost as a down payment. Lenders are very conservative about loaning money on vacant land and for constuction loans.
0 votes Thank Flag Link Sat Sep 15, 2012
We are looking to buy a $45,000 lot and have construction costs of $205,000. Excellent credit scores so that is not an issue. Just don't have a ton of cash to put down and not sure how much our current home will sell for.
0 votes Thank Flag Link Fri Sep 14, 2012
How big of a home are you trying to build?
0 votes Thank Flag Link Fri Sep 14, 2012
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