RESIDENTIAL builders
Highlights
✔ Land Purchase Included – Third-party land purchases can be financed.
✔ 12-Month Build Time – Construction must be completed within 12 months of closing.
✔ Interest-Only Payments – Borrowers pay interest-only for 12 months on disbursed funds.
✔ Builder Covers Fees – Draw fees, inspection fees, and endorsement fees are paid by the builder.
✔ Clear Guidelines – No borrower participation as a sub-contractor; builder-owned and investment properties are not eligible.
✔ Property Type – Single-family residences only.
✔ Loan Options:
- Primary Residence – C2P single close: Up to 95% LTV (Conventional & FHA options).
- Secondary Residence – C2P single close: Up to 70% LTV (Conventional).
- Two-Time Close Available – Final permanent mortgage provided by Luminate Home Loans.
We provide structured financing solutions that support builders and streamline the home construction process. Let’s build success together!
Builder Approval Requirements
✔ Experience – At least 2 years of active building experience.
✔ Reputation – Must have verified trade references.
✔ Creditworthiness – Minimum 660 credit score required.
✔ Insurance – Must carry commercial general liability coverage.
✔ Licensing – Provide copies of all state-required licenses.
✔ Clear Contracts – Build contracts must detail total construction costs.
✔ Restrictions –
- Borrowers cannot act as a sub-contractor on their own build.
- Self-help programs (where borrowers act as general contractors) are not allowed.
We partner with qualified, experienced builders to ensure a smooth and reliable construction process. Let’s build together!