 On
Line Pre-Qualification
Borrower
does NOT need to own the lot (as with standard construction / perm programs)
or own the home (standard rehab programs). We will use final appraised
value per plans and specs. Under some circumstances, you may complete
the transaction with little or NO MONEY DOWN...
We may
even be able to include closing costs!!!
PROGRAM CHANGE PLEASE CALL OUR OFFICE!
410-643-0222
|
Construction
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Purchase / Rehab
|
|
Price of Lot $50,000
|
Price of Home $140,000
|
Cost to Build $100,000
Closing (Est) $7,500
|
Cost of Rehab $90,000
Closing (Est) $10,000
|
|
TOTAL $157,500
|
TOTAL $240,000
|
|
Appraisal $175,000
|
Appraisal $266,000
|
|
LTV @ 90% $157,500
|
LTV @ 90% $240,000
|
|
NO MONEY DOWN!!!
|
NO MONEY DOWN!!!
|
NO CASH NEEDED
AT CLOSING!!!
|
NO CASH NEEDED
AT CLOSING!!!
|
OK, ...so maybe
the property doesn't always appraise that much higher. Remember, for each
$1,000 in over appraisal, it is $900 less cash required (90 LTV)
at closing...
Program
subject to change without notice,
Please
email for more information!
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Properties In States Other Than Maryland,
please
return to LowRateMortgages.com home page!
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