FIRST FEDERAL BANK OF KANSAS CITY
A construction loan through First Federal Bank of Kansas City allows you to borrow the money you need for construction and provides an opportunity for a fixed-rate, up to 30-year term for your permanent loan. You may have the option to be the general contractor for your build, to live on the property while building, and to do some of the finish work. Pre-qualifying for a construction loan is easy, just click on the link below or call the loan officer to discuss your project.
WHAT CREDIT SCORE DO YOU NEED FOR A CONSTRUCTION LOAN?
Fannie Mae Conventional
Primary: 700 minimum FICO score
HOW MUCH MONEY DOWN WILL I NEED FOR A CONSTRUCTION LOAN?
There is a minimum 15% down payment plus closing costs. However, equity in the land or current home (provided the borrower plans to sell) may be used to cover down payment and closing costs. Additionally, any amounts paid out-of-pocket (driveway, septic, water well, etc.) may be used to cover down payment and closing costs.
contact a loan officer or fill out an application online.
Are custom plans better than stock plans?
Well we think so. In most cases, designing your own custom barndominium house plans only costs about 45% more than stock house plans. But the huge advantage is, you always get what you want with custom plans.
1. Strategic planning
Helping you make critical decisions is what we do.
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3 . REALITY REALIZED
You benefit from our years of experience. Just give us a try.