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Low Rates & Fees – Texas Residential Construction Loans

Need a New Construction Loan?

Low Rates & Fees – Texas Residential Construction Loans

Preferred Texas Lender for Construction Loans

Building Your Dream Home Is Complex Enough – Financing It Shouldn’t Be. Lone Star Financing is a preferred lender in Texas and recognized as the “Go To” mortgage company for high loan to value construction loans in Texas. With our FHA One Time Close and our VA One Time Close we can help make your dream a reality without the traditional construction equity requirements. Whether you are building a brick and mortar home or looking at a manufactured home-land combo our loan officers will walk you through the process.

Put our experience to work for you today and let us help with your construction loan in Texas.

What type of down payment is required? – Down payment on traditional construction loans can be confusing to understand. Most construction loans in Texas require 20% down of actual cost.  Meaning you will need 20% of the cost of the build as well as the land cost.  Equity in the land typically can be used to count towards this is you have already purchased.  The One Time Close is different in that we close and fund the loan as if the property is done at the time of closing using loan programs that require much less down.  This allows consumers that normally would not have the traditional equity to still build their dream home with as little as 3.5% down on FHA and Zero down on VA, subject to VA limits.

How does a One Time Close construction loan work? –  You apply the same as you would for a traditional mortgage, and once we qualify you for the term and amount, we begin the construction qualification.  This requires, plans and specs, cost breakdown, build contract, subject to appraisal and completed builder package.  Your builder will have to complete the builders package and be approved. Once all of this is complete, the loan will go to final underwrite, then close and funding.  Then the construction begins.  The amount of time this takes varies depending on how long it takes you to complete each task with you builder.

Can I roll in closing costs? – In many cases the closing costs are covered by the loan. This depends on projected appraised value of the completed home.

Can I get a conventional construction loan? – Yes you can, if you have equity in the land or if you are willing to put the required cash down.  This would fall into a two time close, where we will approve you for the final and then refer to one of our local construction bank partners to provide the interim construction.

Call today or apply online and let us earn your business!

About Construction Loans:

  • One Time Close Construction
  • FHA 96.5% LTV
  • VA 100%, subject to VA Limits
  • Lock in at Today’s Rates
  • Apply. Qualify. Lock. Close. Done.
Texas FHA Home Loans

Construction Loan Pre-ApprovalsApply Now

One-Time Close Texas Construction Loans

Lone Star Financing offers a convenient One-Time Close Loan. What does that mean? Now you can combine your interim construction loan and your permanent mortgage loan into one simple transaction. All you need is one application. And you only pay closing costs once.

WITH A ONE-TIME CLOSE CONSTRUCTION LOAN:

  • Finance your construction and permanent loan in one easy closing
  • Pay closing costs only once
  • Financing options available for high loan-to-home value
  • Lock in both your construction and permanent mortgage interest rate up to 60 days prior to loan closing

For unsurpassed mortgage products and expertise, local decision making, and face-to-face service from a dedicated mortgage banker. Let us help build your dream home – apply online for a no cost loan estimate and let us earn your business.

Learn More About How We Work…

Texas Mortgage Lenders

Texas,TX Branch Manager, Russel StoutRussell Stout NMLS#4567432

Texas, TX Branch Manager
(800) 960-4565
[email protected]
Russell is a University of Texas finance graduate and has been helping people with their mortgages for more than a decade.  Let Russell and his team help you with your next home loan or mortgage refinance and learn why more Texans are choosing Lone Star Financing!

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