What do you call a loan that covers land and then construction of a building later on under the same mortgage? - construction mortgage
Did I hear of any credit granted will be extended to May landd and later for the construction of a building on the same mortga, but I do not remember your name?
Friday, January 22, 2010
Construction Mortgage What Do You Call A Loan That Covers Land And Then Construction Of A Building Later On Under The Same Mortgage?
Subscribe to:
Post Comments (Atom)
Sounds like one of the new loan "Once in the vicinity. Typically, you must have a construction loan that will be used to obtain the purchase of land. Once the house is built, you need to refinance the loan, building long-term permanent loan. So they are in form of loans to the ongoing construction mentioned. But today, many banks offer loans as soon as the "fence." You have just a loan that the ceiling of the construction and permanent financing to avoid that too close and pay the closing costs, twice. ask for loans from local banks, even in the surrounding area and shop around the lowest rates and conditions. Good luck!
ReplyDeleteSounds like one of the new loan "Once in the vicinity. Typically, you must have a construction loan that will be used to obtain the purchase of land. Once the house is built, you need to refinance the loan, building long-term permanent loan. So they are in form of loans to the ongoing construction mentioned. But today, many banks offer loans as soon as the "fence." You have just a loan that the ceiling of the construction and permanent financing to avoid that too close and pay the closing costs, twice. ask for loans from local banks, even in the surrounding area and shop around the lowest rates and conditions. Good luck!
ReplyDeleteThis is a piggy back loans for some banks.
ReplyDeleteand for the purchase of the land,
to them and build on
pay the first two, called
TAKE output.
Construction to Perm (Permanent purposes PERM)
ReplyDelete