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Do most mortgage lenders provide construction loans?

April 26, 2017Carolina Charlotte Construction Estate lenders Loans mortgage north

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Do most mortgage lenders provide construction loans?

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Many mortgage lenders have construction-to-permanent financing loan programs. Programs will vary with each individual lender. Typically, a construction loan is an interim loan secured by the property on which a dwelling is being constructed. The funds are usually disbursed throughout the construction period and replaced with permanent financing once the construction is completed. You may also choose to utilize separate lenders for the construction financing and the permanent financing.

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Posted

Many mortgage lenders have construction-to-permanent financing loan programs. Programs will vary with each individual lender. Typically, a construction loan is an interim loan secured by the property on which a dwelling is being constructed. The funds are usually disbursed throughout the construction period and replaced with permanent financing once the construction is completed. You may also choose to utilize separate lenders for the construction financing and the permanent financing. Some lenders specialize in financing mobile homes which are not permanently affixed to a foundation. Most lenders will finance double-wide homes that have been permanently affixed to a foundation.