All Government Programs
First-Time Buyer, Rural and Veterans Programs
Ask us about our program
To improve your credit scores...
Starting with only...
500 Credit Scores!!!
Don't worry and submit your information
We will help you.
Contact us to analyze your options.
Don't worry and submit your information
We will help you.
Upto 90% financing for
Purchases of up to $830,000.
USDA Loans for moderate income Families
0% down payment - 100% financing
Foreign National Program without:
Residency, Social Security or Income in the US
One-Close Construction Loan Program incorporates a construction period of 6, 9 or 12 months followed by a fully amortized loan term with a single closing.
Clear Lending offers Construction Loan Program a conforming construction-to-permanent loan with 6-, 9- or 12-month construction periods with only one closing. During construction, program allows borrower make interest-only payments on the funds disbursed along with taxes and insurance. Borrower must carry a builder’s risk policy until the property is eligible for standard homeowner insurance policy.
Once the house is complete, the mortgage loan note is modified and so its monthly payment from interest only with taxes and insurance to principal, interest, taxes and insurance. Mortgage insurance will be activated and the premium included in the modified monthly payment. This process will not affect those loans for which an escrow waiver is obtained.
Soft costs (architectural, engineering and permit fees) may be financed, however, loan closing costs may not. Full third party builder contracts only.
Product
|
Term
|
Construction/Interest
Only Period
|
Loan Term for
Registration
|
One-Close Construction 30-Yr Conforming
|
30 years
|
12 months
|
372
|
One-Close Construction 30-Yr Conforming
|
30 years
|
9 months
|
369
|
One-Close Construction 30-Yr Conforming
|
30 years
|
6 months
|
366
|
One-Close Construction 15-Yr Conforming
|
15 years
|
12 months
|
192
|
One-Close Construction 15-Yr Conforming
|
15 years
|
9 months
|
189
|
One-Close Construction 15-Yr Conforming
|
15 years
|
6 months
|
186
|
ELIGIBLE PROPERTY TYPES:
• 1-unit site-built homes.
• Planned unit development (PUD).
• Modular home (constructed in sections off-site, but when installed at the site takes on the characteristics of a site-built home).
• Site condominium (detached). Must be fee simple interest for land and dwelling.
• Rural Properties.
INELIGIBLE PROPERTY TYPES
• Manufactured homes.
• 2-4 unit properties.
• Properties where construction has already begun.
• Lots in excess of 10 acres.
• Log homes.
Escrows will be collected at time of closing for taxes and insurance. The underwriter may (or must in some circumstances) project the real estate taxes as follows:
• Taxes may be calculated based on the current tax rate as obtained from the local tax assessor’s office or the underwriter will use 1.5% of the purchase price.
Do not wait any longer and find out how much you can get Pre-Approved for.
Clear Lending can help you with a Construction Loan Program. Simply complete our secure and encrypted Pre-Approval Form online and we will contact you right away to review best options for you.
Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.
Joan is awesome! He helped us secure a home loan in a very short time. After being rejected, losing money and valuable time with another organization, Joan accomplished what I thought was impossible. I found Joan to be knowledgeable, professional and driven in his efforts to get us approved. He communicated to us throughout the process and was responsive to my questions and concerns. I would recommend anyone looking at purchasing a home to contact Joan and he will make it happen. He is great! Thanks Joan!!
My wife and I had been trying to purchase a home for over two years and due to some other unforeseen issues we felt that that dream would never come true. I am grateful that we found Joan Gallardo with Clear Lending to make our dream come true. Joan was there every step of the way and two months after closing he is still there for us if we need anything or have any questions about our mortgage. Being first time buyers we were scared and nervous about the entire process but Joan made it as simple as possible and the whole experience was great. He gave us all the information we needed to make the home purchase that fit our needs and we could have not asked for a better mortgage lender. Our family is forever grateful for his hard and professionalism.
Excellent Loan Officer!!! Joan Gallardo works fast and gives his best effort to his clients. A very polite man that always answers your questions. I Really Recommend him to anyone. God Bless You.
