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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.

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

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