Home / Financing

Preferred Lenders

Lower Down Payment: You can qualify with as little as 3.5% down for FHA, 0% for VA and USDA with One-Time Close.

  • Everything is Inclusive: Includes land, building, site development and permits all in one loan.

  • Get more home with less money down.

  • No Re-Qualifying or re-appraising: Do not worry about needing to qualify for a second loan, We offer an all-in-one loan.

Lower credit score requirements.

evergreen HOME LOANS

Conventional-FHA-VA Construction Loans


Nathan Crouch

NMLS# 904321
Residential Loan Officer
13605 Meridian Ave. E Puyallup, WA 98373
Office: 253-604-2216
Cell: 253-677-3077
Email: [email protected]

Anthony (Tony) Cox

NMLS# 570120
VP, Residential Loan Officer
34600 Pacific Hwy. South
Federal Way, WA 98003
Office: 253-604-2203
Cell: 253-205-1526
Fax: 253-604-2215
Email: [email protected]

Apply Online
Download Construction Flyer
Download Lot Loan Flyer
Download Construction Information

Our lot loan is a simple loan to help clients purchase raw land. If the property has or can have water and sewer/septic installed than it is 25% down. If it doesn’t meet that criteria than we will allow it with 35% down. The loan loan is a (Example) 5.75% 15 year loan that has a rate fixed for 3 years. There is no balloon payment or timeline to build so the loan can actually go out 15 years but rarely does. Typically it is refinanced into our construction loan.

Our construction has a couple options. We can do a construction loan where we help clients buy land and do the construction all in one loan or we can do it where they already own the land. We have a portfolio construction loan that allows up to 90% loan to value and our conforming loans allow up to 95% loan to value. Our loan limits are anywhere from $50,000 to $2,000,000. We do a 9 month, 12 month, or 15 month draw process with the rates and fees increasing for each term. For your borrowers they will want to work with a construction company that can hopefully build in 9 months to get the best rates, but some of the bigger builds require the longer time periods. We do offer extensions but it is cheaper to go with a 12 month loan up front than to get a 9 month loan and then have to pay an extension for 3 months after the initial 9.

Construction draws: We pay based on what work has been done and typically we do that once per month.

Having the borrower own the land first has a big advantage for the file (whether free and clear or with a land loan it doesn’t matter). When the client owns the land first we get to use the completed value of the house instead of the cost to build value. This is assuming of course that the completion value is higher than the cost to build value but it results in the clients coming in with less cash to close, better rates, and possibly avoiding PMI on the file.

For example:

If you are buying $100,000 land and want to build a $400,000 house. The cost to build is $500,000 (the sum of the 2). The house might appraise for $600,000. (making numbers easy)

Client could buy the land first for $25,000 down and then the max loan amount would be $475k ($75k to payoff the land loan and then $400k to build the house). Because $475k is less than 80% of the value of the house the client only had to put down $25k to buy the land and now can build a house with great rates and no mortgage insurance and no additional funds out of pocket.

If the client doesn’t buy the land and does our all in one loan to buy the land and the construction loan the appraised value is now $500,000 (cost to build) and the client needs to put $100k down to avoid PMI and have the same rate as the first client. We can still do the loan for $480k but it will be significantly more expensive to the client due to higher rate and PMI costs.

Timberland Bank

Timberland Bank
Construction Loans

Jannae J Mitton
NMLS: 1019639
253-358-0010 Cell
[email protected]


Lisa Ketcher | U.S. Bank Home Mortgage

Mortgage Loan Originator | NMLS #: 1382810
655 West Smith Street STE 200 | Kent WA 98032
Phone Number 253-200-7977

Mortgage loan Assistant: Jennifer Valdez
[email protected]

Apply Online


Marques Aurelius Johnson | Sales Manager | All Square Mortgage Inc

3906 S. 74th St ste 202 Tacoma Wa 98409
C: 253-222-0322
D: 206-456-2571
F: 888 508 0476
[email protected]
NMLS ID # 493389 | Tacoma Branch NMLS ID# 1252404

Onvetion OTC with 3% percent down payment.pdf
Marques OTC.pdf


FHA 203K Rehab / ADU Construction Loans

Gene Krawchuk| NMLS #450258
C: (206) 999-4369
[email protected]


Michele Anderson, Mortgage Loan Originator

Homebridge Financial Services, Inc.
1700 Westlake Avenue North, Suite 600
Seattle, WA 98109
NMLS #583049

o: 206-595-2499
c: 206-595-2499
f: 206-512-1791
e: [email protected]

Fairway Independent Mortgage Corporation

Derek J Barcial
Mortgage Loan Originator
NMLS: #605294
Fairway Independent Mortgage Corporation
1004 E Main St, Suite E
Puyallup, WA 98372
Mobile: 253-381-8156
Direct: 253-446-2866
E-Fax : 1-866-235-8649

Apply Online

Download pdf

Mortgage Lenders


Lock & Sell

Lock-in buyer prospects upfront! Have your qualified buyes approved and Interest rate locked, even while they still have a house to sell or are finalizing their sales contract.

etended rate lock

Extended Rate Locks

lnterest rates can go down… but they can also go up. We make it easy for Your customers to lock in their loan,s Interest rate for up to 12 months (360 days), helping avoid buyers fallout while you complete their home.

wide variety of loan

Wide variety of loan options

We offer a wide variety of loan products to help make sure your homebuyers get the right loan for their financial situation, and also offer some of the more complex loans solutions sometimes not offered by other lenders.

network team of new home

Network Team of New Home Loan Consultants

We have experienced new home mortgage professional ready to help your homebuyers quality and finance their dream home.

local service

Local Services

Local processing and underwriting for quicker decisions and greater control of the closing process.


  • Lower Down payment: Clients can qualify with as little as 3.5% down for FHA, 0% for VA and USDA One-time Close
  • PMI automatically terminates at 78% LTV (Conventional OTC only)
  • Everything is Inclusive; Finance the home, lot, and any needed site improvements in one loan closing
  • Customers can build with lower down payments
  • Generally no re-qualifying on FHA/VA/USDA: Do not worry about needing to qualify for a second loan


  • Max loan-to-value (LTV) 96.5% through FHA; 100% through VA and USDA; 90% through Conventional (97% when eligible CHOICEHome property is combined with Home Possible or HomeOne program(s)
  • FHA/VA/USDA: minimum qualifying credit score 620; Conventional: minimum qualifying credit score 700 up to 80% LTV; 720 above 80% LTV
  • FHA/VA/USDA: 15 and 30 year fully amortizing fixed Conventional: 15, 20, or 30-year fixed; super conforming mortgages (in designated high-cost areas)
  • 1 unit single family stick-built residences.
eligible property types

Eligible Property Types

CONVENTIONAL: stick-built

FHA: stick-built
USDA: stick-built
VA: stick-built

Hard Money/Alt Financing Available

program highlights

Program Highilights

  • If qualified and based on loan – No payment due from borrower during construction
  • Single closing reduces total costs. Reduced closing costs. Only 1 appraisal. Value is typically locked in at time of appraisal and not final take-out loan.
finance eligibility

Financing Eligibility

  • Financing options: FHA USDA, and VA
  • Maximum LTVs:
    • – FHA: 96.5%
    • – USDA: 100%
    • – VA: 100%
  • Lower qualifying credit score

CONVENTIONAL LTV typically 80-90%

Diggs Tips for Homebuyers

When closing on a construction loan, many factors went into determining your creditworthiness.

Your lender will need to update your Credit and Capacity documents (credit, income, assets, etc.) once your home is near completion. It is very important that keep the same creditworthiness status or better during the construction loan term. Please contact your loan officer prior to making any financial or credit decisions. Things to watch for in particular are:

  • DO call us if you have any questions.
  • DO continue making your mortgage or rent payments.
  • DO continue to use your credit as normal.
  • DO keep working for your present employer.
  • DO keep your same insurance company.
  • DO stay current on all existing accounts.
  • DO pay your property taxes as they come due.
  • DO have sufficient cash reserves to set up your impound account (property taxes and insurance) once construction is
  • DON’T make a major purchase (car, boat, fur, jewelry, etc.)
  • DON’T open a new credit card
  • DON’T take out a new loan
  • DON’T apply for new credit (even if you seem pre-approved)
  • DON’T buy any furniture
  • DON’T change bank accounts
  • DON’T close any credit card accounts
  • DON’T consolidate your debt onto 1 or 2 credit cards
  • DON’T finance any elective medical procedure
  • DON’T join a new fitness club
  • DON’T max out or over charge on your credit card accounts
  • DON’T open a new cellular phone account
  • DON’T pay off any loans or credit cards without discussing it with us
  • DON’T pay off charge offs without a discussion with us first
  • DON’T pay off collections without a discussion with us first
  • DON’T start any additional construction projects
  • DON’T borrower money from friends or family without discussing with us first
  • DON’T transfer any balances from one account to another

If there’s something that comes up in your life that’s not mentioned on this list, but is out of the ordinary, please let us know. A pro-active approach will help eliminate possible issues at a later date.

Thank you for choosing Diggs Custom Homes to help you with your construction financing and we look forward to working with you.

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