What You Need to Know About Construction Loans
August 26, 2021
The Construction Loan Process
If you have not built a home on your lot before, the construction loan process might be new to you. Our construction loan lenders are fantastic to work with and will easily guide you through the process. They will provide you with a wide range of programs for every financial situation.
Choosing a Lender
Many like to shop for their own lender when they apply for a construction loan. However, the construction loan process is different than a traditional mortgage loan, or other loans you might be familiar with. Only a handful of lenders are experienced in construction loans and have recent proven track records for closing these loans on a regular basis.
Many banks have out of state processing and appraisers, which can cause problems or delays during the process. All our preferred construction lenders are local, seasoned in doing these types of loans, and have competitive rates available.
Choosing a Loan
There are a wide variety of loans you can choose from when it comes to construction loans. Our lenders are familiar with all of them, and we are here to help you select the best loan for your finances. We and our lenders are happy to provide estimates and take you through the process.
Classic Homes Makes the Difference
Many builders have only one lender company they recommend. At Classic Homes, we currently have a number of lenders you can choose from.
All our preferred lenders compete on rates, so you can shop for the best rates. Our loan officers have been our partners for over two decades and are familiar with our process and working with us. We select only the most qualified loan specialists in the industry.
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This post was written by Classic Homes
