Ground Up New Construction Loan. New construction loans from the ground up keep construction on schedule.
A mortgage broker’s services are not limited to those seeking to purchase a home. Construction workers, for example, can take a giant leap forward in their careers by qualifying for a mortgage.
Do you own a construction company and need a mortgage to complete a project? To assist you get the money you need to build your next project from the ground up, we provide a Ground-Up New Construction loan.
A Primer on Loans for Brand-New Construction
Our new construction loan is tailor-made financing for the construction industry. It’s made especially for rental or other residential buildings. Our loyal customers can take advantage of this program since it offers quick, convenient finance options.
To what end can a loan for brand new construction help me?
When you’re a builder, every second counts. To save you time, we’ve designed a program with simplified underwriting requirements. Additional advantages you’ll enjoy with this loan product are as follows:
- servicing of loans internally
- A Quick Process of Due Diligence
- Speedy agreements that allow you to move on to the next stage of your project without delay.
- To keep everyone on the same path with regards to payment, this platform also provides rapid construction draws with the assistance of an in-house construction management staff.
What to Look for in a New Construction Loan
What are your thoughts on getting a loan for brand new construction from the ground up? A few details of the program are as follows:
- For the first several months of these loans, the borrower merely has to pay the interest. For a certain time period, principal payments are withheld.
- Unused credit balances accrue no interest to the borrower.
- The loan period can be anywhere between 13 and 24 months long.
- Borrowed money can be utilized for a wide variety of new building purposes, including but not limited to speculative builds, display homes, modular homes, infill projects, and infill finance.
- You can have your project and payments managed by in-house construction managers.
- The borrower’s assets can remain untouchable by selecting a non-recourse loan.
- Grasping the Benefits of Managing Construction Projects Internally
When building projects are delayed, finance often fails and workers go unpaid. In-house construction management is included in this loan program to facilitate communication among the borrower, lender, and constructor (if applicable) and prevent the project from being delayed owing to a lack of finances.
Reach Out to SteveKnowsLoan Right Away!
Here at SteveKnowsLoan, we provide contractors and real estate investors with a wide variety of lending options. We can assist you in figuring out whether or not you qualify for a loan for brand-new construction that starts from scratch. Get in touch with SteveKnowsLoan’s expert loan officers today to get started on your next successful project with our Ground-Up New Construction loan.
Get in touch with one of our lending advisors today. Contact us!
Call Steven Jackson at 813-616-9411 now!
