This program is designed to save the cost of two settlements. Long-term locks available. Borrower may use part of the construction loan to acquire the land. Make use of the amount needed, and make payments only on the used amount. This plan is tailored for Borrowers that do not desire to pay monthly escrow.
Borrowers can pay their own taxes and insurance.
Excellent for first time buyers, with little money. Some seller paid closing costs are required. No credit scores. Some minor credit problems are accepted, at lender's discretion. All closing costs and fee can be paid by the seller.