Construction Loans
Valor Mortgage helps home builders who are looking to build their home in Tennessee through the assistance of a construction loan.
ABOUT LOAN
What is a
Construction Loan?
With a construction loan, you can build a home that matches your vision. Construction loans cover the costs of land, materials, labor, and other expenses needed. Make your dream home a reality. From modern homes in Nashville to cabins built in Gatlinburg, a construction loan gives you the support you need. Work with us to simplify the construction loan process and start building your dream home today.
Who is It Best For?
Build Your Dream Home – Customize every detail to match your vision.
Covers All Costs – Land, materials, labor, and more.
Flexible Locations – From city homes to mountain cabins.
Simplified Process – We guide you through every step.
Start Today – Get the support you need to begin building.
BENEFITS
Benefits of Construction Loans
Custom Home Design
Construction loans allow home builders the flexibility to create a fully-customized home design, building a truly unique home.
Build New
Like everything, homes age. With a construction loan, build a new home that has no history! Begin a legacy!
Use Property as Equity
If you own your land, you can use your property as equity on the cost of build, helping you qualify for a larger loan.
Interest Only Payments
Payments are interest only during the construction period, allowing for payments to be lower than traditional loans.
Requirements
Construction
Loan Requirements
In order to apply and qualify for a construction loan in Tennessee, builders must have a:
Strong credit score is needed to qualify for a construction loan
good debt-to-income ratio
down payment of at least 5% of the total cost *options for 15% down with no mortgage insurance
approved builder
detailed construction plan for review and approval
Throughout the building process, lenders will monitor the construction progress to ensure it adheres to the approved plan and timeline.
Loan Process
Overview
1:Get Pre-Approved
Start with a quick and easy pre-qualification.
2:Choose Your Home
Find the perfect home that meets your goals.
3:Submit Documents
We’ll help guide you through the paperwork.
4:Close Your loan
Sign, fund, and receive your keys!
education
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Valor Mortgage is powered by Encore Lending Group, LLC NMLS 1249911,
Christopher Armantrout Loan Officer NMLS 1210804
