Types of Construction loans
- CONSTRUCTION LOANS are not easy to procure as traditional mortgages. The
terms, rates and fees may differ widely. A Construction Loan is generally a
short-term and interest only loan. Such a HOME CONSTRUCTION LOAN is usually
replaced by a regular mortgage on completion of construction.
- NEW HOME LOANS
The greatest advantage with this type of Construction Loan is that
application and processing fees are reduced.
- CONSTRUCTION-TO-PERMANENT LOANS
In this case, the lender automatically modifies the Construction Loan into a
mortgage after construction is complete. The borrower deals with just one
lender, fills out one loan application, and pays only one set of closing
costs. But the borrower also agrees to the mortgage rate and terms before
construction is complete. There's no chance to shop around for a new lender
after the house is finished.
- COMMERCIAL LOANS
A loan given to a business for the purpose of constructing a building or
improving existing real estate already owned by the company. Commercial
Construction Loans are very large and long term loans that are difficult to
obtain. In just minutes, we can provide you with a matched list of funding
sources. Start your application
- LAND LOANS
A Construction Loan finances the land, land improvements (such as clearing,
grading, utilities, driveway, etc.), actual construction costs, finishes in
the home (such as carpeting, appliances, etc.), architects and engineer's
fees, permit fees, interest payments on the Construction Loan while the home
is under construction (so you don’t have to make payments on your present
home plus the home under construction if you do not wish to) and closing
costs on the transaction.
- BUSINESS LOANS
Construction Loans for a business are a little harder to obtain than
RESIDENTIAL CONSTRUCTION LOANS. Certain banks prefer specific types of
property for lending money, and the terms for Construction Loans are
generally much shorter than with a mortgage. In addition, BUSINESS
CONSTRUCTION LOANS take much more into consideration than just credit
history - factors such as the industry of your company, how profitable it
is, how long you've owned the company, and your experience with business or
entrepreneurship will be some of the deciding factors as well. On the other
hand You can find Private Investor for your Construction Loan who will have
much easier terms for your loan request.
- BAD CREDIT HOME LOANS are specifically designed loans for people whose
credit history has been damaged. These loans allow people with poor
financial backgrounds the opportunity to build a dream house.
- OWNER BUILDER LOANS
Here at Lending Universe we offer Construction Loans for the owner builder.
This programs programs include, conventional, kit or log home construction
financing, and allow you to self build your home, it gives you the easiest,
most flexible Construction Loan available that will help you save money as
you build your new home. Whether you are building a home for you, for
investment, or for rental or resale our Construction Loan program is
designed to LOANS
Since VA loans require no down payment and have a high loan to value, banks
or lending institutions are not willing to approve interim home Construction
Loans directly to veterans. At Lending Universe, we have created an
effective way for veteran homebuyers to be able to construct their dream
- FHA LOANS
If you have construction or remodeling in mind then consider a FHA
Construction Loan. FHA loans can be used for construction financing,
refinancing, modernization, remodeling, equipment, expansion, etc.
you consider hard money for construction loan?
Your Construction Loan Application here