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Studying
Understanding what is available for you is a critical step in home buying process. This section will give you an insight as to what loan options are available for you.

Loan Options Explained

  • What is a Single Closing
    A single closing construction loan is the combination of financing the construction and the permanent mortgage. There is a single closing transaction that occurs prior to construction beginning.
  • Mortgage Loan Products
    Conventional Veteran Administration (VA) FHA *Must meet mid-FICO eligibility requirement
  • Builder or General Contractor
    Builders don't have to pay for the construction upfront, then sell the home to a borrower. Must be an approved and/or registered builder/general contractor with Pillar Mortgage Company, LLC.
  • Benefits
    Borrower are eligible to purchase lot and to fund the construction of the property Borrower already owns the lot which the home will be build on, (fund can use funds to payoff existing lien on lot)
  • Ineligible Properties
    Co-ops Attached condos Manufactured homes Accessory dwelling units
  • Pre-Qualification Process
    Simple Pre-Qualification Process Down payment maybe required Click Inquiry to button
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