|
|
My construction loan programs can be tailored to your specific needs. Below is some information to help get you started. To get started immediately click here for my on-line application.
Return to Loan Programs
| |  |
| Borrowers, in some cases, will need a construction loan if they intend to purchase a home in a new development or if they are building a custom home. Construction loans are necessary because of the longer time frame and special requirements of the building process.
| |
I offer my borrowers "One Time Close " construction loans. This type of construction loan will finance the construction of a primary or secondary residence and the permanent loan when construction is finished. A One Time Close construction loan requires borrowers to sign only one set of documents and allows my borrowers to lock in a rate for the permanent loan at this time. This type of home loan will allow for 12 months of construction time and during the construction period, interest is charged only on the funds that have been disbursed. Pretty cool, huh!?
| |
Just like with most loans, a few documents and qualifications that borrowers, such as yourself, will need to have when you begin the application process for a construction loan will be given directly to you, by me. Some of the qualifications my underwriters will require are; Reliable debt-to-income ratios, a minimum credit score, and sufficient liquid assets-(all are dependant upon loan program requirements). An example of the types of documentation underwriting will ask for will include, but not be limited to, a building department permit, sets of plans and specifications. Many loan programs require that construction be completed within 12 months.
Should you have any question, you can contact me directly at 773-255-5989 or joe@joespisak.com
|
|
A construction loan can help you build the home of your dreams in . Our construction loan experts can help you choose the construction loan that is right for you. Contact Joe Spisak & Amerihome Mortgage to discuss your construction loan.
|
|
| |
|
|
|
