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jefflent59 · Joined: 21 Aug 2011 Posts: 6 1.90 Dollars($)

I live in N.H. right now I am looking at a piece of land too purchase too put a New Modular Home on it 3 or 4 bedroom and 2 baths. Now the one time close program I heard is the way to go is this correct. Now the only problem is I do not have much money too put down and my 3 credit scores are 617,601, and 601 all fico scores. Is there programs that will work for this situation.

Thank You:
Jeff Lent

gmakerley · Posted: Sun Aug 21, 2011 3:42 pm Post subject:

In 2007 when I joined First Horizon, which did scads of construction lending, we marketed a "one-time close" to borrowers. Before long, that was a dinosaur, i.e. no longer available; not long after, so was construction lending in general.

I don't have any awareness of there being too many lenders doing construction loans, but if you can find one and that lender offers the product you want, you'll be fortunate.

The benefit is that you don't have to have a whole new closing when the home is complete, thereby saving substantial money.

jefflent59 · Joined: 21 Aug 2011 Posts: 6 1.90 Dollars($)

I happened too find a company called CTPLoans.com have you ever heard of them George.

gmakerley · Posted: Sun Aug 21, 2011 4:01 pm Post subject:

No I haven't...sorry to be of no assistance there.

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