Financing in Fort Myers>Question Details

Kathryn Laws…, Real Estate Pro in Fort Myers, FL

Who is doing 100% new construction loans?

Asked by Kathryn Lawson Fritsch, Fort Myers, FL Fri Sep 24, 2010

Help the community by answering this question:


I can finance 100% of new construction and 80% on land. We use the future equity of your project as the down payment. so if your project appraises for 480,000 but you only need 400,000, the 80,000 in appraised value is your down payment and you basically only have to pay for title, escrow and appraisal fees. I also work with owner builders. No origination or points! Loan amount up to $3 million. Primary or Secondary Homes. One-time construction

Call to discuss
Eduard Gubarik
National Residential Mortgage
1 vote Thank Flag Link Mon Oct 12, 2015
I only do loans in CA, NV and AZ
Flag Thu Mar 24, 2016
I only do loans in CA
Flag Thu Mar 24, 2016
I am in Wyoming and would like to hear from you also my email is
Flag Mon Mar 21, 2016
Eduard Gubarik,

I know that you're out of California but do you service Texas also?
Flag Fri Mar 18, 2016
Hi there ...
Here you go ...
100% construction
I'm lending in all 50 states... Love to talk to you!
Web Reference:
1 vote Thank Flag Link Sun Sep 26, 2010
Your website says you are in Australia. I do 100% on construction loans, using future equity as down payment. Just wanted to know your guidelines for the program you offer. 916-223-4257 Eduard Gubarik
Flag Tue Oct 13, 2015
Are you still doing 100% construction loans?
Flag Tue Jan 27, 2015
I do both Fannie and FHA constrution loans but the down payment is 3.5% and the escrow is $ 10000.00 held by your title company, this is nessasarry as the home values do not usually come up to the amount it takes to build and thier is always negitive equity, as homeowners always change plans, cabinets, fixtures, ect, thought construction.

FHA Requires a FHA Consultant to review plans and ect, ususaly cost 1K........

The remaining portion of the home must be paid in cash. This program would be great if values were higher unfortunately.
1 vote Thank Flag Link Sat Sep 25, 2010
Tell people looking for those that some people are meant to keep renting. One of the reasons we are in this mess now id because gov't was pushing everyone to be a homeowner.
1 vote Thank Flag Link Sat Sep 25, 2010
Thankfully, one of the outcomes of the real estate and financial meltdowns is that these types of exotic financing instruments are no longer available. 3.5% FHA loans on existing inventory are the an option for some buyers.
Web Reference:
1 vote Thank Flag Link Sat Sep 25, 2010
We have a top notch construction-to-perm product. Feel free to check my page for more details.
0 votes Thank Flag Link Wed Jun 8, 2016
Developing single family homes in Naples Florida, best prices and best commissions in the area, agents who would like to earn 5% commission please contact me. Also need a great hardworking lender who does construction mortgages who would like to work together. We also have offices in Coral Gables, FL and of course in Naples.........239.352.5353
0 votes Thank Flag Link Mon May 9, 2016
Anyone who needs to finance 100% of their home should not own a home.
0 votes Thank Flag Link Wed Feb 18, 2015
I agree this is a very ignorant comment. Leveraging someone else's money can often times be a very savvy financial gain. It's called be a smart home owner and know what you're getting yourself into. The statement would be better put, "Anyone who can't truly afford the home they're trying to buy should not own that home"
Flag Wed Jan 6, 2016
....................................... dumbest comment i've ever seen, jack wagon!
Flag Sun Dec 6, 2015
Feel free to contact me directly- Here is a snapshot to Construction loans we offer:
-CTP loans can be on Primary Residences and 2nd Homes for ground up construction, lot acquisitions, tear down, renovations/additions, modular homes, log home , stick built homes with loan amounts up to $2.0MM.
- We "do not" qualify the builder, we quailfy the client. Builders LOVE this!!

Key Points
1. This is a Citizens Bank portfolio product, we can finance up to 90% loan to value of the entire project. This is point is usually the one your clients will appreciate! At this point in time Citizens is one of the only lenders that will loan on a 90% LTV with NO MI!!!

2. The construction loan is a true “One Time Close” with the first 12 months payment being interest only during construction for the borrower. When construction is complete the loan modifies to a fully amortized loan with principal and interest payments. Borrowers retain the ability to further modify the loan if they have additional savings or down monies at the time of the home completion/modification (Ex. Sale of an existing home mid or even post construction). To reiterate; there is no need for duplicate closings, even in the previous example.

3. Closing costs for the borrower are the standard closing costs for a mortgage, purchase or refinance. The only additional fees that would be typical to the client would be the costs to pay for the draws and final inspection.

4. In case were we need a custom draw schedule Citizens may accommodate per the contract guidelines set forth and approved.

5. As the Builder you can get up to a 10% Advance draw at the construction loan closing for start up funds.

6. Curb side funding is available and we typically wire the monies into your account direct.

7. No long term rate locks are needed, we can lock the borrowers at application! This rate translates to both construction and perm loans, keeping it simple!

8. CTP loans can be on Primary Residences and 2nd Homes for ground up construction, lot acquisitions, tear down, renovations/additions, modular homes, log home , stick built homes with loan amounts up to $2.0MM.

9. Final and most important for the site GC/builder! Citizens Bank has limited to no Paperwork, no credit checks, no financials. Citizens does require a disbursement schedule to be in the contract and/or provided and does require a copy of a license and insurance needed for the state you are building in (if applicable.) This fact alone makes this a fairly simple process for our builders in our network.

Alex Reinig
Sales Manager- 412-889-3310
0 votes Thank Flag Link Fri Feb 6, 2015
Good afternoon Alex, Im glad I had an opportunity to confirm that the only equity that you are able to utilize is if the land is either paid down or paid off. Feel free to sent the clients that inquire about 100% over to us since we are one of the very few banks nationwide that will use actual equity as their downpayment up to a 100% of the total cost of the project and land combined.
Flag Tue Oct 13, 2015
I am a small builder / investor...I do very few flips What I have done is carve out a nice little niche for myself building modular homes. Go to Zillow and look at my house at 2801 1/2 Thornton. 3400 square feet of living area 4,000 square feet under roof. I buy empty lots or a tear down ,build in South Tampa's, expensive neighborhoods, and sell to the market average between 180-220 dollars a square foot....average house size I build is 3,000 square feet of living area. Do you lend money on these types of projects...thanks Gary
0 votes Thank Flag Link Thu Nov 6, 2014
Hi GAry... I'm CA would like to install nice modular 2 story house on lots like you are doing, much more efficient, I like the brand you are using in... I'm, would mind let me know the manufacture is?
Cheers Andrew
Flag Sun Sep 20, 2015
hi who is doing the constrction work of al amwaj company
0 votes Thank Flag Link Fri Nov 2, 2012
Othere than private finance groups charging 300% interest, there is no one.
0 votes Thank Flag Link Sat Sep 25, 2010
In our area, the builders have lenders who finance their homes. In fact, they pay most of the closing costs if you use their lender.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference:
0 votes Thank Flag Link Sat Sep 25, 2010
Hi Kathryn,

Constructions are not being approved for 100%.

Web Reference:
0 votes Thank Flag Link Sat Sep 25, 2010
No one. Those are loans that don't exist anymore.
0 votes Thank Flag Link Fri Sep 24, 2010
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