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798 Rays Road #102 Stone
Mountain, GA 30083 Bus. 404.298.9200 Fax. 404.298.9377 |
| Our construction loan programs can be
tailored to your specific needs. Below is some information to help get you
started.
To
get started immediately click here for our on-line application.
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to Loan Programs
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Borrowers will need a construction loan if they intend to
purchase a home in a new development or if they are building a custom home.
Construction loans are necessary because of the longer time frame and
special requirements of the building process.
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Many mortgage lenders offer borrowers One Time Close construction loans.
This type of construction loan will finance the construction of a primary or
secondary residence and the permanent loan when construction is finished. A
One Time Close construction loan requires borrowers to sign only one set of
documents and allows borrowers to lock in a rate for the permanent loan at
this time. This type of home loan will allow for 12 months of construction
time and during the construction period, interest is charged only on the
funds that have been disbursed.
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There a few documents and qualifications that borrowers will need to have
when they begin the application process for a construction loan. Some of the
qualifications mortgage lenders will require are a minimum credit score of
620 and sufficient liquid assets. The documents construction lenders will
ask for include a building department permit and many require that
construction be completed within 12 months.
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A construction loan can help you build the home of your dreams in
Georgia. Our construction loan experts can help you choose the
construction loan that is right for you. Contact CapQuest Mortgage Services,
LLC. to discuss your construction loan.
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798 Rays Road #102 Stone
Mountain, GA 30083 Bus. 404.298.9200 Fax. 404.298.9377 |