Construction Loans Guide

Commercial Construction Loans Requirements Section


 

Commercial Construction Loans Requirements Navigation

Main Home Page
Partners
Tell A Friend about us
Construction Loans And Bad Cridit |
Houston Construction Loans |
Lot Construction Loans |
Construction Loans Tucson |
Michigan Construction Loans |
One Time Closings On Construction Loans |
Insurance For Residential Construction Loans Contractors |
Explain Construction Loans |
Construction Loans Vacant Lot |
Home Construction Loans In Texas |

List of Construction-loans Articles

Commercial Construction Loans Requirements Best seller

Buy it Now!



Best Commercial Construction Loans Requirements products

Sitemap

Deprecated: Methods with the same name as their class will not be constructors in a future version of PHP; rss_parser has a deprecated constructor in /home4/marcilio/public_html/loan/construction/datas/rss.class.php on line 2



Social bookmarking
You like it? Share it!
socialize it

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Construction-loans
Email:
First Name:



Main Commercial Construction Loans Requirements sponsors


 

Latest Commercial Construction Loans Requirements Link Added

INSERT YOUR OWN BANNER HERE

Submit your link on Commercial Construction Loans Requirements!



 

Welcome to Construction Loans Guide

 

Commercial Construction Loans Requirements Article

Thumbnail example. For a permanent link to this article, or to bookmark it for further reading, click here.

´╗┐Construction Loans: Learning the Basics

from:


You will come to find that loans on the construction of your home can be very complicated. Many people assume that they are similar to a mortgage loan, but that isn't the case. In reality, construction loans are much different, confusing, and complicated. There are certain things that you need to keep in mind before you decide to get one of these loans.

What are Construction Loans for?

A construction loan is different from a mortgage loan because you get it before you ever have a home. They are instead used for when you own a piece of land that you now want to build a house upon. With the money from the loan, you can now pay contractors, builders, electricians, and all of the people that you need for the building of your home.

Research Before You Apply

It's a good idea to do a lot of research before you apply for construction loans. Often, you don't get approved for as much money as you expected. If that's the case, you'll need to reevaluate what kind of construction you need done in order to build your home.

You should also be aware that the construction of a house would almost always cost more and take longer than you expected in the end. Since this is the case, you should always take out a loan for more money than you need. Also, a lot of these construction loans charge you only for interest during the construction period. The rest of the money is then due upon completion. If construction takes too long, this could affect when you pay the rest of your money.

You should also research different lenders before you choose the one that's right for you. Most local banks do not offer construction loans. If they do, they don't always have enough options for the prospective home owner. Instead, you'll have more luck with a national bank. You should also make sure that your lending officer knows a lot about the business. These kinds of loans are very complicated and there may be repercussions if you choose someone who doesn't have enough experience.

Construction-to-Permanent Loans

Although there are many different kinds of construction loans that you can choose from, construction-to-permanent loans are the best. This means that the construction loan you have will turn into a mortgage loan once the house is completed. This will take care of two things at once, and will also save you money in loan payments and interest. As you can see, there is a lot to know when it comes to a construction loan.




Fatal error: Uncaught Error: Call to undefined function eregi_replace() in /home4/marcilio/public_html/loan/construction/datas/persobanner_center.php:21 Stack trace: #0 /home4/marcilio/public_html/loan/construction/datas/center.php(8): include() #1 /home4/marcilio/public_html/loan/construction/datas/pages.php(77): include('/home4/marcilio...') #2 /home4/marcilio/public_html/loan/construction/commercial-construction-loans-requirements.php(2): include('/home4/marcilio...') #3 {main} thrown in /home4/marcilio/public_html/loan/construction/datas/persobanner_center.php on line 21