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New Home Construction Loans

At IA Mortgage, we offer a variety of home construction loan programs to both real estate investors and borrowers looking to finance the construction of their primary residences.

We also offer Home Renovations Loans and Fix & Flip Financing.

New Construction Loan Highlights (for Primary Residences)

We offer FHA, VA & USDA One-Time-Close (OTC) programs. With these construction loan programs borrowers can finance the construction, lot purchase, and permanent loan into a single loan. This one loan saves the borrower from closing costs associated with multiple transactions and you they will not need to re-qualify for multiple loans.

More about one-time-close loans:

  • Available though FHA, VA and USDA
  • 620 min credit score
  • 15 & 30 year rates available
  • Max loan-to-value of 96.5% for FHA and 100% for VA and USDA (not including USDA Guarantee Fee or VA Funding fee)
  • No payments from borrower during construction

Note that we also offer a variety of renovation loans programs. These products can be an ideal fit for individuals looking to purchase a distressed property or a home in need of updates where the borrower can finance the cost of repairs and updates into a single purchase loan. Learn more about our home renovation loans.

Call us today for a free consultation – (888) 934-6634

New Construction Line of Credit Highlights (for real estate investors)

  • Lines of credit for multiple transactions
  • Funding for up to 75% of land value, 95% of construction budget, 75% LTV
  • Loan amounts from $150K-$2.55 million
  • Single loans available for first time investors
  • Individuals, limited partnerships, corporations or LLC allowed
  • Min 620 credit
  • Allowable properties include non-owner occupied – single family homes, 2-4 unit homes, condos, townhomes, and multi-family up to 20 units.

Let’s Talk – (888) 934-6634

Product, Payment, APR, & Rate Example Scenarios

On this page you’ll find an examples scenarios for 30 year fixed rate programs listed on this website. The rate, APR, and monthly payment examples are for illustrative purposes only. Actual interest rates will vary from the example scenario as rates and terms change frequently. You will need to contact a licensed mortgage professional for the most -up-to-date pricing and product information. The example below is for a rate and term refinance loan of a stick built, single family, primary residence for a borrower with a 700 credit score. Some products may not be available in all areas and some restrictions may apply. 30 Year Fixed Rate Home Loan. The principal and interest payment (P&I) on a $175,000 30 year fixed rate home loans at an interest rate of 4.250% and 65% Loan-to-Value (LTV) is $860.89. The Annual Percentage Rate (APR) is 4.31% with $1200 in fees factored into the APR with zero discount or origination points. Payment does not include taxes and insurance premiums. No Private Mortgage Insurance (PMI) is required with 35% equity. 30 year mortgages require monthly payments for 360 months. Please note that this is an example scenario. Please contact a licensed mortgage professional for the most up-to-date rates and terms and to receive a personal estimate for your unique scenario. If you have any questions, you can reach out to us.

Imagination Age Mortgage 6800 NE 59th Place Portland, OR 97216
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