Home Loans to Build, Remodel or Renovate
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Wondering if you’re qualified?
Build, repair or renovate your dream home with a construction loan from GMFS Mortgage. Want to build your dream home from the ground up? Want to repair or renovate your current, next or second house? GMFS Mortgage offers flexible home construction loans that often are less costly than other financing options. Plus our processing, underwriting, and closing teams are all under the same roof making for smooth and predictable closings. Let the experts at GMFS Mortgage help you finance to build a house or remodel a home.
GMFS has helped over 2,400 families with construction or renovation loans!
One Time Close Construction Home Loan
- Home construction loan
- Min. Down Payment = 5% for primary residence. Land value may be used as a down payment on a refinance transaction.
- Interest rate is capped on permanent loan
- Interest only loan during construction for up to 9 months, then modifies to 15 or 30 year fixed rate loan once home is complete
- Eligible for Primary residence or Second home
- Borrower chooses contractor, subject to GMFS Mortgage verification
- GMFS Mortgage Verified Builder List
- One (1) closing with a simple modification process finalizes your rate and payment once construction completed
HomeStyle® Renovation Home Loans
- Home renovation loan
- Remodeling construction loan
- Eligible for Primary residence or second home
- PURCHASE =Finance the lesser of the purchase price plus renovation costs or the “as-completed” appraised value
- Min. Down Payment = 5% for primary residence / 10% for second home / 3% for first time home buyer
- REFINANCE = Finance up to 95% of the “as-completed” appraised value / 97% if existing mortgage is Fannie owned / 90% for second home
- Rate is locked up-front with no modification once renovations are complete
- Maximum renovation funds = 75% of the “as-completed” appraised value
- Borrower chooses contractor, subject to GMFS Mortgage verification
- GMFS Mortgage Verified Builder List
- Do-It-Yourself option in some limited scenarios
- One (1) closing
USDA One Time Close Construction Loan
- New home construction loan
- Min. Down Payment = 0% (100% financing option per USDA guidelines, excludes applicable closing costs)
- Interest rate is locked at close
- 30 year fixed rate loan
- For primary residences only that are eligible per USDA Property Eligibility Site
- Standard USDA loan limits apply and are calculated based on the property’s “subject to” value
- Borrower chooses contractor, subject to GMFS Mortgage verification
- GMFS Mortgage Verified Builder List
- One (1) closing
- Payment reserve established at closing to make payments on your behalf during construction phase
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Customer Reviews
They made our first home construction loan effortless. Best and easiest experience. Would definitely use them again. Great, friendly people!
Carrie was amazing to work with. This was our 4th house that we’ve purchased and Carrie and Kelsey made it by far the easiest home mortgage experience we’ve had. On top of that, it was a construction loan! We couldn’t be happier. Thanks Carrie and Kelsey!
Carrie and her team were really easy to work with through the process of our construction loan. Very professional, friendly and made the process easy
GMFS is the best lender out there. I am a realtor and use Stephanie Barto all the time in my business but I just used them for my personal Construction loan and WOW!!!!!! They blew me away with the customer service. 4 hurricanes and a pandemic and they made it happen for me with my draws and inspections. And they locked me in to my permanent loan 45 days in advance at the all time lowest rate, they just made the experience incredibly joyful. Wish I could give them 10 stars. Everyone at GMFS Lending does a fabulous job. Thank you so much GMFS.
Service is alive and well at GMFS Mortgage! Our account rep,Hailey, was outstanding during the entire process from qualifying and thru the building stage. Always accessible and professional, she walked us thru every step. Could not have had a better experience.
Contact a GMFS Mortgage Loan Officer today!
Meet Our Construction & Renovation Lending Team
Caroline Guba, Construction Department Team Lead
[email protected]
Celebrating 6 years at GMFS Mortgage!
Chris Savage, Construction Loan Specialist
[email protected]
Celebrating 8 years at GMFS Mortgage!
NMLS #1873522
Christian Gordon, New Construction Loan Specialist
[email protected]
Celebrating 3 years at GMFS Mortgage!
Megan Scott, Construction Loan Department Manager
[email protected]
Celebrating 8 years at GMFS Mortgage!
Ginger LeBlanc, Modification Specialist
[email protected]
Celebrating 1 year at GMFS Mortgage!
Established
Over 150,000 customers and $30 billion in residential mortgage funding in 23 states
Efficient
Processing, underwriting, and closing under same roof means smooth & predictable closings
Trusted
A+ rating with BBB and winner of Torch Award for Marketplace Trust
Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience
*Not a commitment to lend. All loans subject to credit and property approval. The following terms are for illustrative purposes only. Rates, payments, and loans terms vary by consumer based on their individual qualifying information. The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance.
| Loan Term | Down Payment | Annual Percentage Rate | Estimated Monthly Payment |
| 30 year fixed rate | 10% (90% LTV) | 4.75% | $1,043 |