What are the benefits of a construction loan?

290419 Construction Mortgage

Construction Mortgage

Choosing a construction loan over a home equity line of credit or other privatized loan has a few, distinct benefits. They are:

  • They're interest-only during construction: Since the loan isn't paid out in full until the new construction is complete, the bank doesn't ask you to start paying down the principal until then either. During construction, you'll only be expected to pay lower, interest-only payments on the loan, giving you more time to save.
  • They have flexible terms: Though you'll need to provide the bank with specific plans for your project, construction loans offer much more flexibility in terms of loan terms and guidelines than traditional loans do. To a certain extent, you'll be able to work your loan terms around your needs for the project.
  • The added scrutiny provides structure: Though added scrutiny may not seem like a good thing at first glance, during the building process, it can actually help ensure that your project stays on budget and schedule.

Source: forbes

Financial Capital Group, LLC is a lender that provides home and commercial finance solutions for business, professionals, individuals and families since 1999. Our love and care for others is directed as much within our walls as it is outside of them. Our desire is to work together to meet the needs of our customers.

29 Construction Mortgage

Construction Mortgage.

Houston Mortgage Company, Houston Residential Mortgage, Commercial Mortgage, Construction Mortgage, Industrial Mortgage, Land Mortgage, Refinance Mortgage, Mortgage, Conventional Mortgage, Mortgage Insurance, Private Mortgage Insurance, Mortgage Options, Mortgage Programs, Mortgage Rates, Mortgage Professional, Mortgage Calculator, Mortgage Application, Mortgage Process, Mortgage Loan Process, Loan Options, Loan Company, Conventional Loans, Personal Loan Insurance, Loan Options, Loan Programs, Loan Professional, Loan Estimate, Loan Calculator, Loan Application, Financial Capital Group

Contact Info
Financial Capital Group Logo

112 W. 4th St Houston, TX 77007
M: P.O. Box 1319 Houston, TX 77251

Phone: 281-789-8975
E-Fax: 281-817-7707
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Company NMLS #1058422

FOLLOW US

facebooktwitterlinkedinparksgoogleyoutube 

   

Newsletter




Equal Housing Leader

© Financial Capital Group. Website designed by LaraNet | Expand Your Business!