Construction to Permanent

Coaching
Written By stacy lewis

CP Loans-Quick Notes

  • Total 600K

  • 90% LTV

  • 12 month construction (can be a 30-60 extension)

  • GC Consultant and builder must have constructed 10 homes in 3 years

  • Builder approved in 6 weeks

  • 1 time close

  • 6-7 draws

  • 10% draw at closing once loan is paid off

  • Rate plus with ¾ 12mo or ⅝ 9mo

  • Rolls to 15 or 30 year fixed rate

  • Borrower sign off on the loan each time a draw is taken

  • Approval: Plans, specs, projects

stacy lewis
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