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Washington state House Bill 1110 would legalize duplexes in every neighborhood of every inch in Washington regardless of local zoning rules. 

Introducing the one-close construction loan for Conventional and VA. Construct your custom-made homes with waterfront views, game rooms, granite counter-tops, mechanic's garages and more. Everyone has their own ideas of what a perfect home is like but they're are not always available on the market. This custom-tailored loan products offers you the chance to both build and finance the home of your dreams all with just one application and one closing. 

Features and benefits: 

Conventional loans

• Available on 15 and 30 Year Fixed Conventional, High Balance and 7 and 10-Year ARM options. 
• Eligible of Primary, Second, and Investment property purchases as well as rate/term refinances. 
• Consolidate construction and purchase for only one set of closing costs and fees. 
• 11-month maximum build period with 1-month modification period. 
• Pay just interest-only payments during construction. 
• Rate can be locked at any time during the loan application/process.
• Minimum FICO 700 + 
• Conforming and up to High Balance Loan Limits. Click here to look it up.  
• Renovations available on existing homes. 

VA Loans

• Available on 30-Year Fixed loans. 
• Loans up to $4MM.
• Eligible of primary home purchases and cash-out refinances. 
• Minimum FICO 620 +.
• 11-month maximum build period with 1-month modification period. 
• Pay just interest-only payments during construction. 
• Rate can be locked at any time during the loan application/process.

BETTER FOR BORROWERS

• Save time and money. One closing means only having to cover one set of closing costs.
• No settling. With new construction, your borrowers really can have the home of their dreams.
• Low down payment. Down payments as low as 5% down for conventional and 0% down for VA make new construction loans accessible for more borrowers.
• One approval. No need for a second approval.
• Modify down option. Once the loan is complete, borrowers can modify down to secure a lower interest rate if the market changes or stay locked in no matter how the market moves.
• Build-period payments. Conventional borrowers can enjoy lower, interest-only payments while VA borrowers have no payments during the build period.
• Less out-of-pocket expense. The borrower doesn’t have to pay for the build and then get a mortgage. The mortgage pays for the build!

BETTER FOR BUILDERS AND CONTRACTORS

• Levels the playing field. Gives general contractors more freedom to build unique dream homes for their clients, rather than cookie-cutter developments.
• Get paid faster. Once the loan is closed, the cash is ready for labor and materials. It also saves the expense of having to pay for the build up front and then find a buyer.