frequently asked questions

1st Signature Lending is a full-service mortgage lender with a high focus on construction to permanent mortgage lending.  We are passionate about helping customers build their dream home. 

To get Pre-qualified an application must be completed identifying, credit score, assets, income, and maybe more.  Once reviewed – a decision is made.

1st Signature Lending offers several types of mortgage loan products for every circumstance.  Contact a loan officer today to learn more.

We get this question all the time.  It is important to understand all the variables involved in both the home purchase and home construction process.  Contact a loan officer to learn more today. 

We offer FHA, VA, USDA, and conventional loan programs.  Our loan officers are trained to help navigate through all the programs to help find the right fit.

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A construction to permanent loan is a specific mortgage vehicle used to build a new home. This loan has multiple functions that allow you to go through the entire build process. Once the home is built the loan is modified to make your full mortgage payments.

There are many mortgage products, and programs for borrowers for most circumstances. Depending on specific qualifications, and the qualifications of the property, 1st Signature Lending has programs that offer to finance up to 100%.

Every new home is a little different. On average we see construction take 8-12 months from the time the loan closes. If planning on buying a new construction home, we suggest planning on 8-12 months before moving in.

No.  1st Signature Lending works with vetted, approved build partners to ensure our customers receive their new home as planned and on schedule.

No, there are many steps required to build a new home. Shopping and securing land can be a long process, but there are several action items to take to begin the journey. We look forward to helping everyone understand exactly where to start.

Yes, during construction a borrower may need to make payments while the home is being built. Some may choose to set up an account to make these payments during construction. Payments vary based on the size of loan, interest rate, and time needed to complete construction. Consult a mortgage loan officer to learn more.

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There are many mortgage products, and programs for borrowers for most circumstances. Depending on specific qualifications, and the qualifications of the property; 1st Signature Lending has programs that offer to finance up to 100%.

This is a complex question with many variables to consider based on lifestyle and financial goals.  A benefit of home ownership is as the mortgage is paid down; equity will accrue over time.  This could make for a profitable long-term investment in the future.

The short answer is No.  However, the home buying process can be a complicated endeavor and might require the expertise of a realtor to help navigate the many challenges that may arise.  We highly recommend seeking these professional services.

It is important to understand an overall budget and calculate payment scenarios to answer this question adequately.  Try our Calculator (hyperlink) to start this process, but work with a loan officer to learn more.

There are several other costs to be aware of when purchasing a home.  Costs may include but are not limited to homeowner’s insurance, lender fees, title fees, and property taxes.  Depending on the loan program and down payment, one may be required to pay mortgage insurance.  Talk to a loan officer about the costs that may be associated with a home purchase.

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Several circumstances could make someone consider a home refinance.  A change in interest rates, home value, or just consolidating debt may be worth learning more about refinance. Speak to a loan officer today.

Depending on the circumstances of the applicant, a refinance loan takes about 3-4 weeks on average from application to close.

We will need proof of employment, W2s, banks statements, recent mortgage statements, and proof of insurance.  Check with your loan officer to find out more.

Every credit situation is evaluated on a case-by-case basis.  There are programs available for most credit circumstances depending on other qualifying factors.  To learn more, call a loan officer today.

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Let us help you figure out what loan type or loan program works best for your needs!

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