construction loans
Project development funding
Construction loans are short-term financing used to fund the building of a home or other structure.
Unlike traditional mortgages, they typically disburse money in stages as construction progresses and convert to a standard mortgage once building is complete.
Interest rates are usually higher, and borrowers often pay only interest during the construction phase: We secured a construction loan before breaking ground.
- builderOne who erects structures
- financingProviding capital for purchases
- developerOne who builds things
- real estate developmentBuilding on purchased land
- shovel readyApproved and awaiting funds
hard money · foundation · framing · building permit · permits · contractor · blueprint · escrow · collateral · land acquisition · bridge loan · interest only · disbursement · appraisal · lien · spec home · underwriting · takeout
- loansloan, lend, borrow, auto loan, home loan
- real estatehouse, home, apartment, property, sale
- asset financeleasing, sale-leaseback, hire purchase, chattel mortgage, residual value
construction loansmortgage
Secured home loan
conventional mortgage · refinance loan · home equity loan · second mortgage
construction, loans, construct, constructs, constructed, constructing, constructor, constructors, constructive