CONTACT: (917) 664-0677

ONE-TIME CLOSE CONSTRUCTION LOAN PROGRAM NOW AVAILABLE IN NJ & NY

Available Conforming Programs: 10 Year Fixed & 15 Year Fixed 3/1, 5/1, 5/5, 7/1 and 10/1 ARMs Available Jumbo Programs: 10 Year Fixed & 15 Year Fixed 3/1, 5/1, 5/5, 7/1 and 10/1 ARMs.

(*May consider other Fixed Rate Terms on Exception Basis with add to rate.) Eligible States: NJ, NY, MA, CT, RI and NH* (*we will also consider loans in ME and PA on exception basis) Build Types: Available for New Homes, Renovation/Rehabilitation and Additions Loan Limits: Conforming loans up to $417,000 Jumbo loans $417,001 to $1,000,000** ** Loan Amounts above $1M are considered on a case-by-case basis with add to rate. Approval is required prior to submission. Please email william.kumpf@guaranteedrate.com for approval. Max DTI: 45% Minimum FICO: 680 Occupancy: Owner-Occupied Single Family Dwellings and Owner-Occupied Second Homes only. No Investor Properties Allowed. Max LTV: 75% on Primary Residences; 70% on Second Homes For Purchase Loans: The maximum LTV is the lesser of 75% for Primary Residences and
CONTACT: WILLIAM KUMPF, VP Guaranteed Rate NMLS #233990 PHONE: (917) 664-0677 EMAIL: william.kumpf@guaranteedrate.com

70% for Second Homes of the purchase price of the land or property, plus 100% of the budget OR 75%/70% as applicable, of the when complete appraised value. We will holdback 100% of the rehab/construction costs and disburse the funds based on a schedule determined by the work completed. For Refinance Loans, The maximum LTV would be the lesser of the amount of the existing mortgage loan(s) and closing costs, plus 100% of the construction/rehab costs OR 75% for Primary Residences and 70% for Second Homes of the when complete appraised value. We will holdback 100% of the rehab/construction costs and disburse the funds based on a schedule determined by the Credit Union and the work completed. Interest Rates: This is a one-time close program (Construction-Perm), therefore rate is based upon product and term selected by Borrower. Loan closes under selected program/rate and Interest Rate remains the same throughout all Phases of Construction to Permanent conversion/life of loan. Program Rates are available by emailing william.kumpf@guaranteedrate.com or calling (917) 664-0677. Loan Payments: Construction Phase - During the Construction Phase, payment is based on an Interest-Only Payment, calculated on the Advanced Amount. Permanent Phase - Upon completion of Construction Phase, loan converts to Permanent Phase and Payment converts to full Principal & Interest payment.

Please Note: This Program is not offered to Builders directly, the loan must be obtained by the Borrower who will be Owner-Occupying the Property as their Primary Residence or Second Home. This Program is available for the purpose of building a new residence or rehabilitating and/or modifying existing residence. Please call (917) 664-0677 for complete program guidelines.

CONTACT: WILLIAM KUMPF, VP Guaranteed Rate NMLS #233990 PHONE: (917) 664-0677 EMAIL: william.kumpf@guaranteedrate.com