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Buy land, build a custom home, and
still have money for groceries!
There is no need to make a huge down payment when building your dream home. We require only 20% of the lot price as down payment, and we finance everything else — all without private mortgage insurance!
Example:
(lot price) $100,000
+ (construction cost) $400,000
= (total cost) $500,000
$480,000 is the loan amount.
The $20,000 down payment is only 4% of the total cost!
We write loans up to $2.5 million. Use equity in your current home instead of cash down. No qualification ratios and no builder approval required. Act as your own general contractor.
Interest-only lot loans with 10% down.
G.W. Fisher
Severn Mortgage Corporation
888-792-0997 (office)
703-431-1156 (cell)
703-669-4406 (fax) |
