Financing Your Platinum Collection Home
Financing your new Platinum Collection home built by Home Creations has never been easier. Home Creations pays closing costs for buyers using our preferred lender, JMR Mortgage, a subsidiary of First Mortgage Company. Here is a brief summary of available financing options:
When Custom Building Your Platinum Collection Home
If you are building a custom Platinum home from the ground up, your financing will be in the form of a one-time-close construction loan, with a minimum five percent down payment depending on your credit background. A schedule of payments is made to Home Creations as your home is being built.
When Choosing a Home Already Under Construction or Complete
Conventional Mortgages - Minimum down payment is five percent of the purchase price. Please note that other types of down payment options (three percent or even no down payment) may be available on some conventional loans depening on your credit.
VA Mortgages - Available to active military personnel or eligible veterans. No down payment is required for VA loans.
FHA Mortgages - Maximum loan amount is $200,160, with a minimum three percent down payment.
Non-Conforming Mortgages - Tailored for buyers with special credit needs, special employment situations, or buyers looking for combination-type loans like 80/20, 80/15/5, 80/10/10 products.
Adjustable Rate Mortgages - Minimum down payment varies according to the terms of the mortgage program. Rates may be fixed for a certain time period, (3, 5, or 7 years, for example), and then they may change every year for the life of the loan.
For more informaiton on any of the financing options above, including construction loan financing, we invite you to contact Peggy Luster or Carl Tiemann: