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  • Lot Financing | Construction To Perm Loan

    Construction To Perm Product:

    • Can finance up to $2Million

    • LTV up to 90%

    • 700 Minimum credit score for LTV 80% and above

    • Can be primary or second home

    The following construction specific documentation is required:


    •  Construction Contract signed by builder and borrower
    • Must contain a fixed total cost to construct
    • No self help or sweat equity, must be a complete house under one contract
    •  Copy of Deed & Title Policy (if lot titled to borrower)
    • Copy of HUD-1 if owned less than 6 months
    • Lot Purchase Contract fully executed (if applicable)
    • Legal Description of subject property
    • Builder Cost Breakdown or Cost Breakdown
    • Complete set of accurate blue-line drawings and specifications (to be made available to the appraiser)
    • Plot plan with proposed home shown
    • Survey with home drawn in within setbacks and easements labeled proposed
    •  Signed copy of Affidavit Not to Commence


     Lot Program:

    • LTV up to 65%

    • Finance up to $300K

    • Minimum credit score of 680 for loans $200k or less, minimum credit score of 720 for $200k-$300k

    • Unimproved Land (maximum of 10 acres)

    • The property must be in a developed, plotted subdivision with all utilities installed at the site

    o Wells/Septic Systems are acceptable if typical for the market area

    o If the property has public utilities, they must be installed


    Chelsea Newman

    Mortgage Loan Officer

    Fifth Third Bank

    NMLS #1252392

    200 East Robinson Street

    Orlando, FL 32801

    Cell: 407-304-8658

    Fax: 844- 868-3908

    Email: chelsea.newman@53.com

    Website: https://secure.53.com/mlo/chelseanewman


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