“We Want to Build a Home, But How Can We Afford It?”

It’s been your dream to build your own home in Texas. But it seems like a financial impossibility. Most banks require you to have 20-30% down and flawless credit before they will approve a construction loan these days. That's where Georgetown Mortgage comes in. Georgetown Mortgage is not like other banks or mortgage companies. We don’t charge high loan rates and outrageous fees. And, if you qualify for a USDA or VA loan or you have equity in your lot/land, you may not have to put any money down. Perfect credit is also not required. We can lend down to a 640 mid credit score on most loan programs.

How Do Construction Loans Work? A Two-Step Process

At Georgetown Mortgage, we currently only offer a two-time close option. The program is also limited to properties within a 130 mile radius of San Antonio, Texas. We hope to be able to offer another construction loan program in the near future which would allow properties throughout the State of Texas. If you would like to be notified when that program is available, contact one of our Loan Originators today. We can put you on a list to be notified as soon as the program is available.

With a two-time close program, there are two closings. One for the construction loan and one for the permanent loan. The construction loan costs generally include a 1% origination fee, a $250 processing fee, and all the normal third party charges such as an appraisal, title policy, survey, etc. The permanent loan fees are generally a $995 lender fee plus all the normal third party charges like the appraisal, flood cert, survey, etc. If the borrower would like to buy down the rate on the permanent loan, then that is an option. We can also offer extended rate options up to 180 days if you are worried that interest rates will rise during construction.

Get More Information Today

To get more information from an experienced Loan Originator, fill out the contact form on the right or give us a call.The house of your dreams is closer than you imagine.  Contact us today.