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.

 

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One Time Close Construction Home Loan

Loan to build a home or for home renovation & repair

Min. Down Payment = 10% for primary residence

Interest rate is capped on permanent loan

Interest only loan during construction, then modifies to 15 or 30 year fixed rate loan once home is complete

Eligible for Primary residence or second home

Up to $453,100

Maximum renovation funds = 50% of “as completed” value

Borrower chooses contractor, subject to GMFS Mortgage approval (current approved builder & contractor list)

One (1) closing

Interim Construction Home Loan

Loan to build a home or for home renovation & repair

Min. Down Payment = 10% for primary residence

Can use land value equity towards down payment

12 month interim loan to complete construction, then refinance into 15 or 30 year fixed rate

Eligible for Primary residence or second home

Up to $453,100

Maximum renovation funds = 50% of “as completed” value

Borrower chooses contractor, subject to GMFS Mortgage approval (current approved builder & contractor list)

Maximum renovation funds = 50% of “as completed” value

Two (2) closings

HomeStyle® Renovation Home Loan

Loan to build a home or for home renovation & repair

Min. Down Payment = 3% for primary residence / 10% for second home

Interest rate is locked at close

15 or 30 year fixed rate loan

Eligible for Primary residence or second home

Up to $453,100

Maximum renovation funds:

PURCHASE = 75% of the lesser of the purchase price plus renovation costs  OR  the as-completed appraised value for purchase transactions
REFINANCE = 75% of the “as-completed” appraised value

Borrower chooses contractor, subject to GMFS Mortgage approval (current approved builder & contractor list)

Do-It-Yourself option in some limited scenarios

One (1) closing

Want to know the home construction loan process to build a house?
Want to know how to finance building a home?
Want to know how to finance a home addition or finance to remodel a kitchen?
Want to know home construction loan rates or renovation loan rates?
Ready to apply OR request a free consultation for a home construction or remodel?

Start Application

Contact a GMFS Mortgage Loan Officer to Get Started!

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Educational Resources

Additional Mortgage Resources (Calculators, FAQ, Glossary, etc.)

WHY GMFS MORTGAGE?

Our avg. customer feedback rating = 4.8 stars! Experience for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients!

Established

Over 89,000 customers and $14.9 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