Getting a Construction Loan

Many people have never built a home before and the loan process may be new to you.  Our company works with local lenders to get our customers through the process of a construction loan.  A construction loan breaks down the build cost and formulates it into what is called a "Draw Schedule".  Basically, the schedule breaks the total cost into payments that the bank will make to the builder in accordance with what work has been done.  An example would be "Draw 1" gets paid after the slab has been poured.  At the end of construction the lender will convert this construction loan to a permanent mortgage.  It's nothing to be intimidated about and our local contacts would be more than happy to get you pre-qualified. Thanks for reading!