You choose the lender
Use any bank or credit union that supports new-construction, price- and income-restricted condos and the loan type you want. MCDP doesn’t arrange financing. Talking to 2–3 lenders is smart — products vary a lot (3% down, no-PMI, portfolio loans, sharia-compliant options, higher-DTI allowances).
The warrantability wrinkle
"Warrantable" means a lender can sell the mortgage on the secondary market. The Dougherty condos become warrantable when complete, but aren’t during construction. Many lenders are fine with this as long as the condo is warrantable before move-in; some offer non-warrantable products. If one lender balks, try another — Bangor Savings and Town & Country FCU are noted as flexible here.
Title & fees
You can pick any title company; there may be savings with one that writes through Old Republic National Title. FHA/VA/RD loans aren’t expected to be eligible initially, but the association may qualify for future FHA/VA sales.
The trusted list
MCDP has direct relationships with about ten local lenders, each with real strengths and named loan officers. Browse the full lender directory →