All-in-one Custom Construction Part 3-3
Posted by Jim Hungerford on June 8, 2010 · 2 Comments
| Program | All-in-one 5-1(Man Home) | All-in-One 5-1; All-in-One 7-1; All-in-One 10-1 | |||||||||||||||||||||||||||||||||||||||||||||||||
| MANUFACTURED HOME ONLY | STICK BUILT | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Contingency Reserves |
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| Gift Funds | 5% minimum Borrower Contribution from own funds. | 5% minimum Borrower Contribution from own funds, unless gift amount is 20% or more | |||||||||||||||||||||||||||||||||||||||||||||||||
| Prepayment | 2yr Prepay / May be waived / | 2 yr Prepay / May be Waived | |||||||||||||||||||||||||||||||||||||||||||||||||
| LTV FICO LTC LIMITS |
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NO SECONDARY FINANCING ALLOWED Must meet both LTV and LTC limitations |
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| Cash Reserves | Minimum 4 months PITI | Minimum 4 months PITI | |||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Loan Amount | $417,000 | $1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Occupancy | Primary Res. or 2nd home | Primary Res. or 2nd home | |||||||||||||||||||||||||||||||||||||||||||||||||
| Property Type | New from Factory | 1 unit SFR, Detached eligible PUD | |||||||||||||||||||||||||||||||||||||||||||||||||
| Property Limitations | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Multiple Property Ownership | Primary Residence: None2nd Home: Maximum 4 financed properties | Primary Residence: None2nd Home: Maximum 4 financed properties for loan amounts $417,000 or less. | |||||||||||||||||||||||||||||||||||||||||||||||||
| Acreage Limit | 20 Acres | 40 Acres / 20 Acre Maximum loan amts >$417,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Accessory Unit Allowed | No | Yes | |||||||||||||||||||||||||||||||||||||||||||||||||
| Major Remodel | No | Yes | |||||||||||||||||||||||||||||||||||||||||||||||||
| Pre Starts | Not allowed | Available on an exception basis only | |||||||||||||||||||||||||||||||||||||||||||||||||
To help you find the right financing, you want an experienced person with connections to competitive rates and a wide range of programs. That would be Jim Hungerford (CELL 971-226-8403), serving California, Oregon and Washington.
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Filed under Home Buying · Tagged with all in one construction, Construction, construction loans, home mortgage, mortgage market, Mortgage Rates, oregon, portland
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Check out what others are saying...[...] Current product offerings: [...]
[...] Minimum down payment – Minimum down payment from borrower’s own funds or equity is 5% of the lesser of appraised value or total cost of project unless the loan to value (LTV) <=80%, at which time a 100% gift is acceptable. Equity (value minus debts against property) in land already owned is counted towards down payment. [...]