What Types Of Construction Financing Does NVA-Mortgage Offer?
We can help you with custom home construction with our construction/perm program, acquisition and/or remodeling of an existing home with our renovation program, or with an innovative construction second trust which is based on the “as completed value” of your home. What Documentation Do I Need To Apply For A Construction Loan? In addition to the standard asset, liability, and employment documentation, you will need to provide plans, specifications, and a fixed price (not cost plus) builder contract. If you are using the 203(k) program or the Construction Second Trust, you may act as your own General Contractor and we will need a cost breakdown plus subcontractor’s bids/fixed price contracts. What Is Required Before Funds Can Be Advanced? Prior to disbursement of funds, you will need to provide: a copy of the building permit and hazard/builders risk insurance. Prior to your loan’s conversion to permanent financing we require updated hazard insurance, well certification, a final survey,
