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

Loan Originator
NMLS #184049
Office: 430.223.5756
Call or Text: 214.808.5321
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

3701 Arco Corporate Drive, Suite 200
Charlotte, NC 2827

Preferred Builders and Plans

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