Foreign National Program without:
Residency, Social Security or Income in the US
All Government Programs
First-Time Buyer, Rural and Veterans Programs
Ask us about our program
To improve your credit scores...
Starting with only...
580 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
One-Close Construction Loan Program incorporates a construction period of 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 9- or 12-month construction periods with only one closing. Minumum loan is $250,000. During construction, the program allows the borrower to make interest-only payments on the funds disbursed along with taxes and insurance. The borrower must carry a builder’s risk policy until the property is eligible for the 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 with an escrow waiver.
Finance soft costs (architectural, engineering, and permit fees); 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 over 10 acres.
• Log homes.
At the time of closing, the loan collects escrows 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 loan you can get Pre-Approved.
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 the 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.
We finally get the opportunity to write down our review. First, we would like to thank Patricia and Joan for all their efforts. It was a bit overwhelming as we were from out of state, from Massachusetts to be exact. From day 1 to closing date. Patricia & Joan worked with us every step of the way. There was NEVER a day off, and NOT one question unanswered. We got FHA loan approved. And today, we are happy to say, we are home owner’s! Thank you so much! Joan & Patricia.
Joan at Clear Lending was patient, dedicated & thorough with our transaction buying a house. We are 1st time home buyers & needed closing costs. Joan did not give up on us, showing us home after home, in so many different areas around Houston, talking to so many agents for us & helping us until we found our home. He even went the extra mile & made it right by us when the sellers left a mess in the house. Joan didn't have to do that, but he did because he genuinely cares about his clients. I'm really glad we went with him & we'll return if/when we choose to upgrade to a bigger home.
For the COVID-19 the process was a little slow but Clear Lending worked hard and thanks to his team my wife and I fulfilled our dream. Thanks, Clear Lending!!!
