Financing should support the build
Matt’s official LMCU profile describes extensive work with local home builders and construction mortgages. For a builder, the useful evidence is operational: borrower readiness, builder approval, complete plans and specifications, an appraisal that understands the proposed home, and a draw process everyone understands.
Single-close construction-to-permanent financing
A single-close structure closes before construction, advances funds through inspected draws and then transitions to permanent financing without a second traditional mortgage closing. Terms, payment method during construction and modification requirements depend on the active program.
Low-down-payment construction options
LMCU advertises construction options that may require as little as 5% down for qualifying transactions. The borrower, completed value, land, plans, builder, budget and project must all be approved. Never market a minimum down payment as automatic.
Builder approval and project package
Complete licensing, insurance, experience, references and financial documentation early. The project package should align the signed contract, plans, specifications, allowances, site work, permits, timeline and contingency.
Appraisal, draws and interest
The appraisal is based on the proposed completed home and comparable evidence. Draws are released after work and inspections under the lender’s process. During construction, payments may be based on outstanding advances or another program method; confirm the exact interest-only or payment terms rather than assume them.
Change orders and contingency
A change can affect cost, value, timeline and required borrower funds. Use written change orders, preserve a realistic contingency and communicate before work proceeds when financing or appraisal support may be affected.
Turn inquiries into qualified buyers
A builder lead needs more than a maximum price. Matt can help model land equity, base price, options, realistic taxes, insurance, contingency and reserves so the buyer understands the complete project before signing.
Co-branded payment materials
Project-specific illustrations can help buyers compare base price and options, but rates and payments change. Materials must show assumptions, avoid promises and complete required LMCU or legal review before public use.
Frequently asked questions
What does LMCU review to approve a builder?+
The review may include licensing, insurance, experience, references, financial capacity and the specific project documentation. Requirements can change.
Can land equity count toward the transaction?+
Potentially, depending on ownership history, value, liens and program rules. Review the lot before representing how much equity is usable.
Who controls construction draws?+
The lender administers draws under the loan documents, usually after required inspections and documentation. The builder and borrower should understand the process before closing.
Are payments interest-only during construction?+
Some construction programs use interest-only payments on funds advanced, but the exact method must be confirmed in the active loan terms.