100% LTV USDA CONSTRUCTION-TO-PERMANENT LOANS
is currently offering 100% LTV USDA loans for rural properties located in the State of California.
- The property must be located in the State of California.
- The property must be in a USDA eligible area, look up here.
- USDA income limits apply, look up here.
- 100% loan-to-value. Requires no down payment.
- You choose your own architect, building design and building contractor.
- This is a one-time close mortgage which includes construction and permanent financing.
- Closing costs may be paid by the seller up to 6% of the purchase price.
- Closing costs may be gifted from an immediate family member.
- One-time USDA guarantee fee may be financed.
- Minimum credit score of 620. Manual underwriting not permitted.
- First-time homebuyers OK.
- The borrower cannot own any other properties.
- The property must be used as a primary residence.
- Second homes and investment properties not allowed under this loan program.
- W-2 wage earner or self-employed.
- SFR, PUD, modular homes and multi-width manufactured homes allowed.
- Working farms, condominiums/townhomes, and 2-4 unit properties not allowed.
- No reserve requirements.
- Debt-to-income ratios cannot exceed 29/41%, or 32/44% with compensating factors.
- Borrowers must be U.S. citizens or permanent residents with valid work authorization.
- No foreign nationals or undocumented ITIN workers allowed on this program.
- 30-year fixed rate.
- No prepayment penalty.
To download underwriting guidelines
for our 100% LTV USDA construction to permenant loan program:
To download a loan application
for our 100% LTV USDA rural property loan program:
LENDERLINE® is your 100% LTV USDA construction to permanent lender of choice. 100% LTV USDA loans are our specialty. USDA mortgages allow you to do construction-to-permanent loans.
Questions? To get today's interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.