Home  About us  Loans  Finance  Credit Cards  Insurance  Contact us  Resources

 
:: Personal Loans

:: College Loans

:: Home Loans

:: Auto Loans

:: Business Loans

:: Home Equity Loans

:: Mortgage

:: Loan Calculator

:: PayDay Loans

:: Mortgage Loans

:: Car Loans

:: Equity Loans

:: Construction Loans

:: Real Estate Loans

:: Government Loans

:: Commercial Loans

:: Debt Consolidation

:: Bank Loans

:: Education Loans

:: Life Insurance

:: Home Insurance

:: Auto Insurance

:: Health Insurance

:: Disability Insurance

:: Merchant Accounts

:: Money Saving Tips

:: Direct Loans

:: Cash Loans

:: Interest Only Loans

:: Secured Loans

:: Fast Loans
 

Construction Loans
 

 
 

Construction loans are story loans. That is the lender has to know the story behind the planned construction before they're willing to loan you money.  Some common features to a construction loan. Construction loans typically require interest-only payments during construction and become due upon completion. Completion for homeowners means that the house has its certificate of occupancy.

Construction loans are usually variable-rate loans .The contractor and the lender establish a draw schedule based on stages of construction, and interest is charged on the amount of money disbursed to date.

Another variable in construction loans is how much of the project cost the lender is willing to lend. The land that you owe can be considered as equity on the construction loan.

Construction-to-permanent financing programs are also better for some homeowners where the construction loan is converted to a mortgage loan after the certificate of occupancy is issued. After this you only have to have one application and one closing.

A construction loan, unlike a mortgage, isn't meant to be for a long time.

You can take out a mortgage to pay off the construction loan. Construction loans aren't meant to be a method of long-term financing. A first mortgage is a better choice to convert your construction loan than a home equity loan.




 

 

 

Home \ About us \ Loans \ Finance \ Credit Cards \ Insurance \ Contact us \ Resources \  Site Map
 

 Secured Loans::College Loans : Home Loans : Auto Loans: Business Loans: Home Equity Loans::Car Loans

 PayDay Loans::Mortgage Loans: Equity Loans::Construction Loans:: Real Estate Loans:Government Loans
  Fast Loans: Cash Loans :: Merchant Accounts :: Auto Insurance :: Health Insurance :: Disability Insurance

Commercial Loans :: Bank Loans:: Education Loans :: Life Insurance :: Home Insurance :: Mortgage

 Debt Consolidation :: Money Saving Tips :: Direct Loans  :: Interest Only Loans:: Loans