USDA Loan for New Construction for Louisiana Areas
Financing New Construction Using USDA Loan for Rural Development - Louisiana Surrounding Areas
New Construction Loan Service for Louisiana and Surrounding Areas
Do you have plans of building your very own home you have always dreamed about? USDA Loans Louisiana can assist you with all of the expertise necessary in the construction lending process in the Louisiana or surrounding area. We can offer you a construction to permanent loan type which will allow you to enjoy the benefits of avoiding big hassles as well as closing costs on your property – twice!
There is no other loan that is better than the USDA loan for the Louisiana surrounding areas. With this zero down USDA loan, you can remain focused on the dream of obtaining your very own home.
So How Do I Get Started in Obtaining New Construction Financing?
USDA Loans Louisiana can make the financing of your very own home a dream for you.
Your financing and construction mortgage can be combined into one loan making the loan process all that much simpler for you.
So How Do I Build My Own Home From Beginning to End?
The direct loan process is made much easier for you because we will walk with you through the entire process.
Is a Renovation Loan the Right Choice for Me?
This is an excellent choice if you would like to stay where you already reside.
How Do I Get Started with the New Financing of My Construction?
If you are having thoughts about building your very own house, it may at first seem quite confusing when thinking about how the process works. USDA Loans Louisiana can simplify this process for you.
Our construction to permanent loans are specially designed for the borrower who wants to achieve the goal of building their very own home.
The construction to permanent loan allots for construction financing to be easily converted a mortgage that remains permanent once all construction has been completed. In the long run, this loan allows the buyer to save money and the two loans, together, do not need to be secured.
Is My Property Eligible?
Your home needs only to be own occupied or it can be your second home. The home must also be a one unit, single family, detached home. You are required to hire a licensed builder in the construction of your new home.
So How Does the Loan Process Work?
When you are ready to begin your loan application process, you will first need to contact one of our experts at USDA Loans Louisiana to get you started. We make the loan process much easier than applying for a regular loan type. You will need to supply us with a copy of your construction agreement upon which you have agreed with your builder of choice; the construction agreement must state the total cost of your house listing all upgrades, option as well as the value of your lot; a land contract of the place your home will be built; a copy of your floor plan and home façade, if applicable and the deed to your lot.
- A decision is usually made within a short 48 hour time frame once we have received all necessary documentation.
How Do I Close on My New Home Loan?
Once your loan has been approved, a loan draft is then drawn up and this will detail all of the necessary requirements and any legal issues you may need to know about. This is provided to you when you close on your loan but we also send a sample of this for you to review. At closing, you then need to provide the necessary amount of cash which covers your closing costs and down payment.
How Can I Draw Funds on My Loan?
If you exhaust your down payment, you can draw funds from your construction to permanent loan. You will not need to pay any interest until you have utilizing all funds from this.