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VA USDA and FHA Construction Perm Loans Offers Low Down Payment

Do you own land and have dreams of building your own piece of heaven? If you are building a new primary or vacation home in NC or SC, then check out these construction options. A construction perm combo loan can be used when a borrower owns land already. The most popular options include VA construction perm, USDA construction perm, and FHA construction perm. Additionally land may often be purchased through the construction loan closing.

Construction Perm Benefits

  • 6 months to build stick built homes, 4 months for modular
  • Options to buy land through construction loan
  • 660 minimum credit score (many lenders require 700)
  • Primary residence available with VA, USDA, FHA, Conventional
  • Second homes to 85% through a conventional loan
  • Potential for no construction interest only payments
  • Stick built and off frame modular homes
  • Maximum loan amount of $424,100. So not for jumbo loans
  • Only available for North Carolina and South Carolina
  • Requires builder approval

Construction Perm Maximum LTV

  • VA Construction Perm up to 100%
  • FHA Construction Perm up to 96.5%
  • USDA Construction Perm up to 100%
  • Fannie Mae Conventional & Construction Perm up to 95%


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How Our Team Can Help in Building a Dream Home

  • Apply for preapproval
  • Choose an approved builder or submit your builder for approval
  • Allow down to a 660 credit score
  • We can close a construction loan coordinated with VA, USDA, FHA, or conventional loan

Are You a Licensed Residential Home Builder?

Become an approved homebuilder with our team

As a builder, using your own funds for construction restricts the number of houses you can build. Plus think of how many customers you have to turn away because they don’t have 20-25% down payment? So imagine having access to borrower construction financing up to 100%! It frees up your funds and allows you to build more homes. The builder approval process is streamlined and can often be approved within 2 – 3 days of submission.

  • Flexible draw schedules
  • Customary 5 draws to builder
  • Lending a higher percentage of the price means more qualified buyers
  • A hard working, available, and expert mortgage lending team
  • Quick closings

Team Move lends in areas such as Wilmington, Leland, Hampstead, Jacksonville, Whiteville, Shallotte, Southport, Elizabethtown, Lumberton, Fayetteville, Rockingham, Raleigh, Garner, Smithfield, Clayton, Goldsboro, Charlotte, Greensboro, Winston-Salem, Durham, Chapel Hill, Burgaw, Castle Hayne, Holden Beach, Supply, Ocean Isle Beach, Sunset Beach, Hubert, Tabor City, Carolina Beach, Kure Beach, Laurinburg, Topsail Beach, North Topsail Beach, Surf City, Sneads Ferry, Richlands, Wrightsville Beach, New Bern, Oak Island, Saint James, Wallace, as well as the rest of NC. North Myrtle Beach, Myrtle Beach, Conway, Loris, Little River, Longs, as well as the rest of SC and Virginia

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What Our Clients Think

Russell Is A True Professional

Russell is a true professional who truly enjoys helping other people. Russell and his team will go above and beyond to take care of your mortgage needs whether you are building, buying or refinancing. If you are looking for mortgage options I am confident that you will find that Russell and his team are the best in the business offering you good sound advice and the expertise to help you through the mortgage process.

Sue S.
Whiteville, NC
July 21, 2019

He Was A Huge Asset!

Russell was an huge asset to my husband and I when we purchased our home! He made the process incredibly seamless.Everything went off without a hitch on his end. My parents recommended him to us, and we hope to use him again for a future home purchase.

Vi C.
Raleigh, NC
July 19, 2019

I Would Recommend Him To Anyone

Russell helped me finance the purchase of my first home, and after working with him, I would recommend him to anyone. The property I had been renting was being foreclosed on, and I was given almost no notice to vacate, so I needed to find something quickly. Russell and his team were extremely attentive and diligent throughout my search, reviewing each property I considered and giving me estimates on what my monthly payments would be for each, which helped me greatly to facilitate a quick decision. Russell was a Superhero when it came to exploring different financing options, and finding something that would not only work for me, but with a better interest rate than I expect I would have gotten elsewhere. He always seemed to be available when I needed him, and he was always on top of everything throughout the entire process. I sincerely hope I do not need another mortgage anytime soon, but if I do, I know for sure who I will be going to! Thank You for Everything, Russell!

Vanessa K.
Wilmington, NC
July 21, 2019

Always Professional And Responsive
To Our Requests & Needs

I had the pleasure of working with Russell and Amy on a transaction that I thought was “dead in the water”. Their team had actually been recommended by another agent who had used their services and thought they might be able to assist my buyer and me. To my surprise, they were able to provide the kind of assistance that resulted in a successful closed transaction. Russell and his team were always professional and responsive to our every request and need. There was never a time when we called that they did not respond immediately. My client and I were thrilled that they were able to get us closed when we both thought that all hope was lost. Today, my buyer is the proud owner of her first home, due in no small part to the hard work, knowledge, and dedication of this team. I am more than satisfied with the outstanding service that I and my client received, and will not hesitate to refer them to other clients, or use them whenever I can.

Pat Heath, REALTOR ®
July 21, 2019

Someone You Can Trust In The Mortgage Industry

Russell has always been someone you can trust in the mortgage industry. He goes above and beyond for his clients, while also continuing to perform his work with integrity. His teams have always produced great results and are very good to work with.

Michael B.
Burgaw, NC
July 21, 2019

Dedicated Mortgage Professional
With A High Level Of Integrity

Russell is a dedicated mortgage professional with a high level of integrity who, since 2010, has assisted several of my buyers with obtaining a mortgage. In addition to having an outstanding knowledge of the business, Russell is honest, trustworthy, realistic about what it takes to get a loan closed and does it in a timely manner. I highly recommend him for anyone in the market for a mortgage or refinance of their home.

Linda Mehner, REALTOR®
June 19, 2020

Knowledgeable, Professional, Prompt

It has been such a pleasure working with Russell Smith. He is knowledgeable, professional, prompt and goes out of his way to handle any issues that arise. Buying a home is very stressful, he and his team took so much stress off of me during the entire process. Amy, who is the main point of contact, is a huge asset to the company, she helped me so much as well. I highly recommend them for all of your lending needs.

September 30, 2019

Professional and Helpful

My husband and I were recommended to Russell Smith, by our daughter and son in law. They had talked about what a good experience they had with Russell and Blue Ridge Bank, when they bought their home. We were very pleased with how everything was handled in a professional way. Russell was very helpful. We would certainly recommend Russell and Blue Ridge bank to others who may be buying a home or refinancing their present home mortgage.

Mary W.
Calabash, NC
September 30, 2019

You All Are Fantastic!!

I just wanted to say THANK YOU TO EVERYONE at Blue Ridge Bank Mortgage. I have never worked with a lender that has made a closing happen this fast and not to mention without any confusion. You kept everyone on the same page. You all are FANTASTIC!! I wish I could work with you on every closing.

Tammy Burgess
October 2, 2019

Highly Recommend Russell Smith

We could not have been more delighted and pleased to have Russell Smith and his team handle our recent home financing. From start to finish the process was fast, efficient and stressless. Our loan was fully approved well in advance of our closing date, and we look forward to having Russell help us with any future mortgage needs. Highly recommend Russell Smith and his team at Blue Ridge Bank!

Pat W.
Alberta, VA
October 2, 2019

Russell Smith & Amy Kurtyka: Best in the Business

Russell Smith and Amy Kurtyka are simply the best in the business. They completely saved us from disaster during our home purchase. My wife and I had been working for almost 2 months with another bank on a mortgage. 1 week before closing, despite meeting all conditions, the bank denied the loan. We were crushed and desperate. With us WAY too far along in the process to start the home search again, and with an anxious seller, there was only one person recommended to us: Russell Smith. They told us if anyone could pull it off it was Russell (and Amy). And they did it. IN 6 DAYS (start to finish) we were approved and were able to close on the original close date. No one can believe it, and neither can we. Russell and Amy worked well into the night every one of those 6 days and pulled off the impossible. Now we have our dream house. We will forever be in their debt'…'so to speak. I will never work with another bank. Blue Ridge Bank should be the first and last place you look to meet your lending needs. Don'’'t waste your time, go with the best.

Allen R.
Wilmington NC
October 9, 2019

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Russell Smith, NMLS 78989, Senior Mortgage Loan Officer

Monarch Mortgage, a Division of Blue Ridge Bank, Since 1893, NMLS 448992, NMLS Consumer Access, 1424 South JK Powell Blvd., Suite E, Whiteville, NC 28472

The views and opinions stated on this site or links to other sites are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. Additionally, this does not represent being part of a government agency. Not all products or services mentioned may fit all people.

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