Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Construction Loan

A construction loan is a short-term, interim loan to pay for the building of a house. As work progresses, the lender pays out the money in stages. Construction loans typically have a maximum of one year and have variable rates that move up and down with the prime rate.

Construction Loan

A construction loan is a short-term, interim loan to pay for the building of a house. As work progresses, the lender pays out the money in stages. Construction loans typically have a maximum of one year and have variable rates that move up and down with the prime rate.

Construction Loan

A construction loan is a short-term, interim loan to pay for the building of a house. As work progresses, the lender pays out the money in stages. Construction loans typically have a maximum of one year and have variable rates that move up and down with the prime rate.

Build and finance simply, with one-time close construction loans. With a construction-to-permanent loan, you borrow money to pay for the construction costs of building your home. Once the house is complete and you move in, the loan is converted into a permanent mortgage. You have only one set of closing costs to pay, reducing the number of fees you owe.



With the construction-only loan approach, you take out two separate loans. One is solely for the construction of the home, which usually has a duration of a year or less. Then, when you move in, you take out a mortgage loan to pay off the construction.



With a construction-only loan, you don’t need as large of a down payment. You may have limited cash now, but once your current home sells, you’ll have more money to pay the mortgage on the completed house.



At Lucrative Home Loans we have multiple construction loans, we offer construction loans for FHA and Conventional, and self builds. Higher loan limits available. Options for minimum down payments. Not all loans qualify for these terms, subject to credit and debt to income approval.

Build and finance simply, with one-time close construction loans. With a construction-to-permanent loan, you borrow money to pay for the construction costs of building your home. Once the house is complete and you move in, the loan is converted into a permanent mortgage. You have only one set of closing costs to pay, reducing the number of fees you owe.



With the construction-only loan approach, you take out two separate loans. One is solely for the construction of the home, which usually has a duration of a year or less. Then, when you move in, you take out a mortgage loan to pay off the construction.



With a construction-only loan, you don’t need as large of a down payment. You may have limited cash now, but once your current home sells, you’ll have more money to pay the mortgage on the completed house.



At Lucrative Home Loans we have multiple construction loans, we offer construction loans for FHA and Conventional, and self builds. Higher loan limits available. Options for minimum down payments. Not all loans qualify for these terms, subject to credit and debt to income approval.

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