Lending news

As most know, IndyMac is no longer offering construction financing, as well as many other large wholesale lenders.   The reason being that construction loans tie up a lender’s money for 6-12 months, vs. regular purchase/refinance lending where they can replenish their lending funds by selling the loan after originating.

THE GOOD NEWS is that we are fortunate to still have available awesome lenders for owner-builders!

Still available is 100% financing!

Please note, however, that if your property is located in a ‘declining’ market area, that you will need to show a minimum of 5% vested equity or cash into the project, based either on the appraised value (completed off plans/land), or the total cost to build.

I am happy to go over your build scenario and finances, and see if it ‘fits’ into what our lenders offer.  Call or email me!  cindy@buildmax.com or 866-874-8926.   Office hours are 9-6 PST, m-f.

NOTE: NO stated income financing available thru the program.

NOW is the time to get started; don’t wait until your market area is designated a declining market!   Our one-time-close program requires only one appraisal at the beginning of the process.  Thus, if the market was to continue to decline, it would not affect your final take-out loan.   Let’s get started now!


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