FHA & VA Approved
Spanish, Portguese & Vietnamese speaking loan officers available.

ALL CONSTRUCTION LOANS ARE NOT THE SAME

LA Mortgage has THE BEST construction product in all of PA.    Whether it is a stick built home, modular home, we can make the process SIMPLE. If you own your land, we can use that towards your down payment and closing costs. But even if you don’t already own your land, we can help you build your home with a minimum down payment amount of 5%.

COME VISIT OUR BOOTH #58
at the Lackawanna County Home Builders Show at the Ice Box in Scranton.

  • February 5th  5pm-9pm
  • February 6th  9am-8pm
  • February 7th  9am-4pm
 

The first 25 callers to LA Mortgage 1 888 4LA 2111 can get a free admission ticket for any of the times listed for the show.   (Regular price $5, Admission under 12 Free)
 
 
 

Features of LA Mortgage’s Construction Loans.
  • LA Mortgage locks in your interest rate at the time of application.
  • If rates go down between now and closing, LA Mortgage allows you a free float down.
  • After your loan is approved, you have an additional 60 days to close, and then a 9 month construction! All at the same lock in rate, at the time of application.
 
 

WHAT TO EXPECT WHEN BUILDING YOUR NEW HOME
 

How to Start:
To begin building your home, the first thing you’ll need to do is determine what kind of financing you’ll need.   A Call to an LA Mortgage Loan Officer, is the best way to find out what kind of financing suits your situation.   Your Loan Officer can then start your pre-approval or loan application.
 

Finding your Home:
Now you can start planning for the construcitno of your home.  Working with your builder will be easier now with the confidence of knowing how much you can afford comforatably.   Also the builder will know right away, you are pre-approved and can proceed to move forward with choosing the home you want.

Once you’ve chosen the home that’s right for you, you will get a Fully Executed Construction Agreement from your builder, Specifications and Plans which you will pass  along to LA Mortgage.  We will have an appraisal done on your home based on what the house will be worth once the house is completed.   

After we receive the proposed appraisal, signed documentation needed from you, and the loan is reviewed and program guidelines are met, we will issue a written approval.  A closing can then be scheduled with your title company and a mutually agreed date and time will be chosen.  

LA Mortgage will take the time to walk you through all the steps, and you can feel confident knowing you understand the construction process, and what to expect.     Even if you don’t know how to take the first step, schedule an appointment with one of our Construction experts and we can steer you in the right directions.   We also have a variety of builders & modular home companies that we work with that can help you choose what kind of house you may want and can afford. 

 

DURING CONSTRUCTION
During your construction time, payments will be paid monthly as billed on the money that has been disbursed.  

Disbursements are paid upon a satisfactory inspection of the work that has been completed.   At this time you will also inspect the property to make sure the work has been completed to your expectation.  Inspections are generally ordered within 24 hours after receiving written or verbal requests from you and yoru Builder/Contractor.  Disbursements will be paid in the form of a check paid to you and your builer.

After all the Disbursements have been made, and the house is complete, you can move into your DREAM HOME and your mortgage payments will begin.
 
 

Call us Toll Free at:
888-4LA-2111

Or visit us at one of our offices:

Clarks Green Office
251 E Grove St
Clarks Green PA 18411
570-586-3122

Hawley Office
HC6 Box 6033
Hawley PA 18428
570-226-9685

Florida Office
4720 Salisbury Road
Jacksonville FL 32256