Good Quality Mortgages That Fit Your Needs Not Ours !
This type of mortgage provides construction and permanent financing with one closing for a custom build or remodel up to $3 million. The loan closes once all documentation from builder and borrower as well as appraisal of the property have been approved. The building period can be up to 24 months. Adjustable and fixed rate loan options are available. Remodel, renovation and ground-up construction permanent financing are the typical types of mortgages requested. Borrowers pay interest only on amount the owed during phases of construction. The construction process is professionally managed by a third party management company. The title insurance company also plays an important role in the construction process. At completion, the construction loan phase converts to the permanent phase and full principal and interest payments start.
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