Building your dream home from the ground up is exciting, but navigating the financial aspects of a new construction mortgage can be daunting. You're not alone in feeling uncertain about the process or worried about meeting the financial requirements. At NMHL, we understand your concerns and are here to guide you through every step.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
NMHL Construction-to-Permanent Loan
This loan option simplifies the financing process by combining construction and permanent mortgage financing into one loan. You'll benefit from a single closing process, reducing paperwork and potential rate changes during construction.
Expert Guidance for Complex Projects
Our experienced loan officers specialize in new construction mortgage scenarios, offering personalized guidance for complex projects. We'll work closely with you and your builder to ensure a smooth financing process.
Streamlined Pre-Approval Process
Get pre-approved for your new construction mortgage quickly with NMHL's streamlined process. Our online application and dedicated loan officers make it easy to get started.
Personalized Guidance for Your Situation
No two mortgage journeys are alike. Our experienced advisors take the time to understand your unique circumstances and find the best path forward.
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Understanding New Construction Mortgages
A new construction mortgage is a specialized loan designed for borrowers building a new home from the ground up. Unlike traditional mortgages, new construction mortgages involve additional complexities, such as staged disbursements and inspections during the construction process.
At NMHL, we understand these complexities and offer tailored loan programs to simplify the financing process.
Our loan officers have 25+ years of experience helping borrowers navigate new construction mortgage scenarios.
NMHL's New Construction Mortgage Options
NMHL offers a range of loan programs designed to meet the unique needs of borrowers financing new construction projects. Our conventional loan programs are particularly popular for new construction, offering competitive rates and flexible terms.
- Low down payment options starting at 3.5%
- Competitive interest rates
- Flexible loan terms to suit your needs
Our loan officers can help you determine the best loan program for your specific situation.
The Benefits of Working with NMHL
At NMHL, we're committed to providing exceptional service and personalized guidance throughout the new construction mortgage process. Our experienced loan officers will work closely with you and your builder to ensure a smooth financing experience.
We understand that every borrower's situation is unique, and we're here to help you navigate the process with confidence.
98% client satisfaction rate for NMHL new construction mortgage customers
Next Steps in Your New Construction Mortgage Journey
Now that you have a better understanding of new construction mortgages and NMHL's loan options, it's time to take the next step. Contact one of our experienced loan officers or complete our online pre-approval application to get started.
We're here to guide you through every step of the process, from pre-approval to final closing and beyond.
Pre-approval typically takes just 3 business days with NMHL
Frequently Asked Questions
For NMHL's conventional loan programs, a minimum credit score of 620 is typically required, though some programs may allow scores as low as 580 with additional requirements. We recommend checking your credit report and discussing your options with an NMHL loan officer.
The entire process, from pre-approval to final closing, typically takes 30-60 days. However, construction loan draws and inspections may extend the overall project timeline. NMHL's loan officers will guide you through the process and timeline specific to your project.
Yes, NMHL offers construction loan options with down payments as low as 3.5% for qualified borrowers. Our loan officers can help you explore the best options for your financial situation.
A construction-to-permanent loan simplifies the financing process by combining construction and permanent mortgage financing into one loan. This means you'll only have one closing process, and you'll avoid potential rate changes during construction. NMHL offers competitive rates starting at 6.5% APR for these loans.
Getting started is easy. You can begin by contacting an NMHL loan officer or completing our online pre-approval application. We'll guide you through the process, from initial consultation to pre-approval and beyond.