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 CONSTRUCTION
LOANS WITH LOW DOWN PAYMENTS AND INTEREST RATES!
No
one can handle construction and land loans like Best Quotes. We
have the expertise to guide you from purchase of the land to
completion of your new home, with a down payment as low as 10%.
Your
construction loan automatically converts to a mortgage when
construction is complete… so there's only one closing!
We
have programs to fit every need. You can pay interest-only… or
nothing at all… while you build, keeping your costs low. Every
program can disburse funds with the flexibility you need while
you're building.
We
offer the best rates in the business, and your rate stays locked
in while you build, eliminating risk.
How
does it work?
You
apply for the loan (and include plans and specs) so that the
bank can appraise the future value of your project. If you
finance 70% or less, there's no income verification and your
rate is locked in when you apply. We'll complete your paperwork
and guide you through to closing.
As
soon as you have a building permit or an approved subdivision
map, you can close. If you're purchasing land only, you're
already done! If you're building, construction begins!
As
your house goes up, you make payments only on funding you've
received to date (depending upon program). When you complete a
phase of construction, call for an inspection. Once inspection
is completed, the bank wires your funds within 72 hours.
You
finish your house and receive your C of O. Your construction
loan now automatically becomes a permanent and fully-amortizing
mortgage.
You're
ready to begin enjoying your new home!
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