Whether you are building your new dream home from the ground up or planning to renovate or expand your current one, a construction-to-permanent loan from NORTHSTAR FUNDING INC is a great foundation. We currently offer construction-to-permanent loans for owner-occupied single family dwellings in: California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, and Washington D.C. and are considered on a case-by-case basis.
We offer:
- One-time closing costs which translates into big savings
- The ability to take advantage of today’s historic low rates by locking in your permanent rate at the time of application
- The same low rate during your construction phase but at interest only
- Financing for renovation/rehabilitation of your existing home or for brand new construction from the ground up
Features Include:
- Financing for Purchase Rate/Term Refinance and Cash-Out Refinance Transactions
- Fixed Rate Loan Terms of 10, 15, 20 and 30 Years
- Standard Jumbo Loan Amounts of $417,001 to $1,500,000
- Minimum down-payment or equity requirement as low as 20%
- Eligible Property Types: Owner Occupied 1-4 Unit Primary Residences and 1 Unit Second/Vacation Homes (Investor Properties and Coops are not eligible)
- Adjustable Rate Mortgages (ARM’s) of 5/1, 5/5, 7/1 and 10/1
- Super Jumbo Loan Amounts of $1,500,001+ available – call for details
- Minimum Credit Score (FICO) 680*
Have less than 20% down-payment?
Increase your buying power by combining one of our Jumbo Loans with a Home Equity Line of Credit or Fixed HE-Loan to Purchase a New Home at up to 90% Combined Loan to Value (CLTV) by combining an 80% first mortgage with a 10% Home Equity Line of Credit or Fixed HE-Loan. Contact your NORTHSTAR FUNDING INC Mortgage Lending Team for more details at 800-917-1595