Interest rate for home construction loan - Construction loans for new home




Interest Rate For Home Construction Loan

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            Construction loans work a bit differently from conventional mortgages. Since the lender is financing the cost of construction, during the actual construction the loan is usually not due. The homeowner is expected to make interest-only payments during this period.More...


Construction Loans For New Home

Construction Loans For New Home           If you are planning to construct your new home, and do not have the bank balance to finance the cost of the entire project, do not worry. Construction loans are a great option for future homeowners.Here are some steps you should keep in mind before opting for a construction loan:More...


Definition Construction Loan

Definition Construction Loan            Construction loans are sums of money lent to future home owners to pay for the construction of their homes. The completed house serves as collateral. Construction loans are extremely contextual. The lender usually needs to know every little detail about the planned construction before sanctioning the loan.More...


Top Construction Loans

Top Construction Loans         Before going for a construction loan, always remember to be prepared. Some initial preparation, while seemingly tedious, could end up saving you thousands of dollars, so it is well worth the time and effort.To get the top construction loans, you will have to compile your credit and recent financial history. This includes credit card bills and other debt payments, bank statements, tax returns, insurance informatioMore...


Types Of Construction Loans

Types Of Construction Loans          Broadly, there are primarily two types of construction loans, based on the type of construction for which the loan is being sanctioned. So for large commercial projects, commercial construction loans are offered, while residential construction loans are offered for people building their homes with the money. Residential construction loans are far less complex than their commercial counterparts.More...


What Is A Home Construction Loan ?

What Is A Home Construction Loan           If you have just inherited or bought a piece of land and want to build a home on it, a home construction loan is the type of loan you are looking for. There are two basic types of construction loans, one for large commercial projects, and the other meant for individuals who want to use the money to finance construction of a house. There are a few key points which separate a home construction loan from other types of loans.More...



Home Loans :

How-Construction-Loans-Work      Construction loans are basically known as ‘story loans’ in the business. Thus, before sanctioning a construction loan, the lender needs to know the whole story behind the construction. He will ask you about details like the rate at which you aim to finish construction, the reasons for the construction and so on and so forth. Due to this relativity, every construction loan is different. There exists no standardized construction loan like there are for standard mortgages. More..

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