#Construction loans #Construction #loans
Construction loans ******* Construction Loans Construction to Permanent Loans for Residential Properties Available for New Homes, Remodeling, Lot Purchase, and Permanent Financing U se it to build a new home, remodel an existing one, or buy and build on a lot —and keep it long term. Two options are available; a stand-alone Home Construction Loan or a Construction to Permanent Loan. The latter is a simple financing solution because it gets you from purchase or refinance to the construction phase and interest reserve to long-term financing with just one loan. You qualify for the loan up front, lock in your permanent interest rate, sign a single set of loan documents, get up to a year (or longer) to complete your construction project, and you don†t have to revisit the financing or appraisal when you†re done. First, we†ll cover the stand-alone variety. How Do Construction Loans Work? Your home†s Future Value Appraisal combined with Loan to Cost Ratio determin...