Archive for the 'Finance' Category

LONG time, no post…

have not kept this site up…. been scrambling to find new business and work with all our new lenders.  YES!  we do still have owner-builder financing available.

Offerings vary by state, so if you are seeking financing, email me with your location, and I will post back with terms. 

BIG right now is renovation- BUY a new home with only 3.5% down and renovate it to suit your needs!


Lending still available!

Just a heads up that we still have some strong lenders available to help finance owner-builder construction, and also lenders with GC involvement.

Send me a email in regards to WHERE lending is available.

Also, I have re-entered the mortgage biz with L&G Mortgage Banc, which means I can do purchase, refinance, rehab loans in AZ, CA, NM, CO, TX, NV, WA, and ID.

BUILDMAX article in “Family Home Plans”

Follow this link to excellent article in the Family Home Plans digital magazine Fall 2008, titled “the Upside of the Downturn in Home Construction”.

What construction lending terms are your receiving?

OK readers.. would love to hear from you in regards to what kind of construction financing you are finding out there!

I am aware that many local banks are still lending.. but at what LTV/LTC, what down payment, and with or without a builder?

WE still have available 3 lenders and soon to add another…. and can you believe that we are STILL able to offer a construction to perm loan with only 5% down (based on appraised value of the project)?  AND with credit score of only 640?

I believe that this is still a good time to build.  In many areas the values are stablizing and may not drop further.   Your construction-perm loan is based on Fair Market Value at the time of construction start; a new appraisal is NOT done at the completion of the project.  Thus, IF you are building in sufficient ‘sweat equity’, then your investment will be safe.

Many subcontractors need the work!   Why not start your project now and a discounted land purchase, and employ these needy trades!

TWELVE.. count them… 12!  months of no payments while you build!

Call me.  I will get you started first with an estimated cost to build budget line-item, a detail of lending terms, and then get your loan application over to the lender for credit approval.

Again, I welcome your replies in regards to what lenders are offering you on construction financing!


I have come upon more and more clients who are choosing to renovate or remodel their existing home as opposed to building a NEW home.. which in itself is a ‘GREEN’ alternative!

BuildMax has just brought on-board a new lender that can offer 97% financing to pay off your existing property, purchase building materials, pay for labor, permits, fees, closing costs and NO payments for 6 months while you renovate.   Credit scores as low as 580!

Go to and then call me for more information!  

Lending update

Lenders are continually adjusting programs to strengthen their portfolios in light of the current economic situation.
We received unfortunate news last week that 100% financing is no longer available.  Following is summary of what is:

  1. 5% down based on the total cost to build, with 700+ credit score.*  Total Cost is what you paid for the land, soft/hard costs, lending fees, reserve funds.
  2. 5% down based on the project appraisal value, with 640+ credit score.*
  3. 5% down based on the cost of the land, 640+ credit score.*

Program availability is based on property location, and, if the property is located in a designated declining market an additional 5% down will be required.   If you have owned the land over 1 year, than any vested equity (difference between what you owe and what the land would appraise at) can apply towards the 5(10)% requirement.  Also, the funds can be gifted, or secured by home equity line (current home).    All programs require minimum two months reserves (this is two months of the projects calculated mortgage payment; the money only needs verified at the time of loan underwriting and serves to show the lender that you have funds to make the payment for two months in the event of losing income).

Jumbo loans (over $417000) fall under different parameters with 10-20% required down.

* Loan approval not guaranteed based on meeting credit score minimum requirement; all loan requests are run through lender’s underwriting computer system and must receive an ‘ACCEPT’ status.

Spring Build offer!

You DON’T want to be breaking ground when the snow starts flying!
Start NOW!

I can help you get organized to move forward and break ground sooner than later!
And to give you that extra push, I am extending my $250 gift card offer!

The offer now is:
Complete a loan application and provide me with your project details by May 23rd (this is the date that my son’s school is out for the summer!), and then break ground by 4th of July (this means you have signed construction loan documents with the bank), then I will issue a $250 gift card from Lowes or Home Depot!

THIS gives you plenty of time! If you procrastinate until 5-23, then you have only 45 days to get all material together. If you start today, then this gives you a whopping 70 days!

Here again are the stages in the construction loan process:
1. PRE-QUALIFICATION: Completed from your gross income and monthly debt payments, along with information about your intended build. If you have a floor plan in mind, you can email it to me (web link, CAD, PDF files) or fax, and I will work a personalized Feasibility Study. This Study will indicate a range of estimated costs to build the intended house, and add up all the associated costs, lender fees, reserve funds, land payoff, to make sure it is feasible for your financial situation.
2. PRE-APPROVAL: Completed from a full loan application & credit pull. You can complete a loan application on my secure website at (but we cannot skip step 1!)
3. CREDIT APPROVAL: Lender reviews actual financial documents you send them (w-2’s, paystubs, bank statements), and approves YOU for the loan.
4. PROJECT APPROVAL: Now the project gets approved via an appraisal, title report, and budget/plan review.

Of course, I want to make sure you are fully informed before you put in a loan application, so contact me for more information as needed!

Now let’s get building!


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July 2018
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