Good morning,
I am finally ready to start a new construction loan.
Do we have a list of new reputable nationwide new construction lenders?
The builder we have selected has two different local banks
(Prosperity Bank and First Liberty National Bank) that do new construction,
I am also interested in shopping others - I have accounts with NFCU ( I do not believe they do new construction)
Chase, and a relationship with amex, discover, and many others.
Suggestions? Questions concerns comments? Thank you.
Zip code building in 77575
Current fico scores across the board all over 800.
Est. Cost of construction 450-500k
Property owned no liens or back taxes.
Downpayment 90k cash.
Income over 100k on w2.
More surplus cash i can pull from if needed.
I have 2019,20,21 and soon 22's w2 ready as well as chk/savings statements and 52 weeks of stubs. Can go farther back if needed.
Can also get tax returns for last several years if necessary.
Thanks for the help.
It looks like chase also does new construction loans- this is good news. Anyone else i've heard of?
Preferably in the greater houston area / large national banks
@Mortgage-Specialist wrote:Regarding the lenders you've already been in contact with, are they doing a one time close?
FLNB does a one time close, I have not inquired with Prosperity or Chase yet.
Puhleeeeese, you're guaranteed to get premium terms with your profile and other factors. US Bank called my wife and I and said they do new construction as well. We're supposed to go meet with them in a few weeks, although I didn't plan on starting this project until next year. Guess you can add them to the list.
Looks like you're in Texas, you should look into SSFCU most builders that I have been talking to recommend them in my area (Utah). If they are available to you that is who I would reach out to first. https://www.ssfcu.org/
Good Luck!
