Hello and welcome. This is Nolan Formalarie with DiscoverNChomes and “Nolan’s News”. I have Grace with me here today. Grace, thank you so much for joining us! She is from Homeside Financial, a mortgage company out of Wilmington.

Nolan
I’ve been doing this a long time, Grace and when you came to the office the other day and discuss some of your products, she talked about a construction loan that can be financed by FHA, VA. So she’s here to talk about all of her products, but specifically I just found that very interesting. So again, thank you and please open us up on construction loans.

Grace
Yes, thank you for having me. So we offer three construction to perm programs. So we offer our VA, FHA and conventional. Our conventional, you can go to 95 loan-to-value or 5% down, VA you can have nothing down, so you don’t have to put anything down for a construction program. And then FHA, you have 3.5% down.

Nolan
What is the credit score on those last two, the VA and the FHA?

Grace
Sure. So you’re looking at a 640 credit score for VA – minimum 640 credit score for the VA loan. In FHA and the conventional you’re looking at 660 points credit score.

Nolan
Nice. Okay, and I know you offer competitive rates, so what are those money amounts down needed for each one?

Grace
Yes, so 0% down for FHA construction to perm loan, 3.5% down for FHA and 5% down for conventional.

Nolan
Nice, this is wonderful. And again, you lend all over Brunswick County, correct?

Grace
Yes, we’re a national lender, so we lend anywhere in the U.S. We have a branch in Wilmington, NC and our construction program is a, one-time close. So you do everything on the front end, and then we modify you on the backend.

Nolan
Oh, that’s nice. That means you only pay for one closing.

Grace
Correct, minimum fees and then minimum closing.

Nolan
So you’re saving a few thousand there!

Grace
Yes!

Nolan
Very nice! Well again, thank you for coming on! Guys, here’s her website and where to contact her:
Website: https://gohomeside.com/loan-officer/grace-cacala/
Address: 6105 Oleander Drive – Office 202, Wilmington, NC 28403
Email: gcacala@homeside.com
Phone: 585-362-7915

Again, those are the FHA VA for building and the credit score that’s needed. I think this is a great product out there. So we really need to look at it and utilize it. I appreciate it and Grace, thank you again!

Grace
Yes, thank you for having me!

If you are interested in buying a home in the Brunswick area in North Carolina, check out our search page.

About Nolan Formalarie

Nolan Formalarie has been in the North Carolina Real Estate Industry for over 8 years and enjoys every minute of it. He is involved in every aspect of the industry including selling and purchasing residential property, home watch services, property management, association management and construction.