BUYING PROCESS
Letter Of Intent
Note: 5% deposit and the remaining isn’t due until December 15th targeted date to have water, sewer, and electrical utilities brought to the development or 30 days after utilities are brought to the development. The 5% is non-refundable, but can be applied to another available lot at any time if a buyer wants to make a change.
Preferred Lenders
Jerry Scott
One-Time Close
Program Highlights
Interest-only payments due during construction on drawn amounts only.
No re-qualification once construction is complete
Single closing reduces total costs
Eligible Terms
Conventional: Fixed-rate 15 and 30-year amortization
FHA: Fixed-rate 15 and 30-year amortization
VA: Fixed-rate 15 and 30-year amortization
Eligible Property Types
Conventional: 1-unit stick-built housing
FHA: 1 to 4-unit stick-built housing
VA: 1 to 4-unit stick-built housing
Financial Eligibility
Financing Options: Conventional, FHA, and VA
Maximum LTVs:
Conventional: 95%
FHA: 96.5%
VA: 100% not including VA funding fee
Minimum Qualifying Credit Scores:
Conventional: 700
FHA: 620
VA: 600
Cardinal Financial
430.223.5756
customercare@cardinalfinancial.com
3701 Arco Corporate Drive, Suite 200
Charlotte, NC 2827
Preferred Builders and Plans
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