Welcome To Christie Mitsumura - Blue Seas Team

Like a traditional mortgage, land loans require a down payment, are secured by the property they purchase and paid back over time. You’ll work with a loan officer, who’ll help you apply for the loan and check your credit. Land loans can come from banks or credit unions, specialty lenders or government programs. However, not every mortgage lender offers land loans.

• Build your dream home
• Low to no down payment options
• Single close options
• Interest only payments

Construction-to-permanent loan

Many banks and credit unions offer these types of loans, specifically designed for building a home. Money is paid out as construction progresses, and the loan converts to a traditional mortgage when you move in

Construction-only loan

Much like a construction-to-permanent loan, these loans pay for construction of the home as it happens. However, it will not convert to a traditional mortgage. You’ll need to pay the balance in full at the end of construction, or refinance to a new loan that pays off the construction loan. This type is also known as a two-time close construction loan.