Skip nav to main content.

What happens if construction costs exceed the loan amount?

How does a construction loan work?

Construction loans provide funds in stages as your home is being built. These funds are disbursed to your builder based on a pre-agreed schedule, often called "draws." During construction, you typically make interest-only payments on the disbursed...

Continue Reading

What is a construction mortgage loan?

A construction mortgage loan is a type of loan specifically designed to finance the construction of a new home. It typically involves two phases: the construction phase, where the loan funds the building process, and the permanent mortgage phase, where...

Continue Reading

Mortgage Documents Needed:

Copy of your driver’s license Last 2 years W2’s Most recent 30 days span of paystubs Last 2 years Federal Tax Returns Most recent two months bank statements, all pages Contact information for homeowner’s insurance...

Continue Reading