Finding the perfect home with all the amenities you want and your desired layout is a nearly impossible endeavor for those looking to purchase home. From deciding the style of your home, whether or not you want an open concept, how many bedrooms and baths, it may be difficult to find the home that can check off all of your boxes. Most buyers will find that they have to compromise in either area, style of the home, or even bedroom and bathroom count. However, if you have been delaying your purchase because you have clearly imagined what your dream home looks like, it may be time to explore a construction loan.
Our financing options range from FHA rehabilitation loans (if you found the right home but just need the financing in order to renovate the home to make it truly yours) to ground-up construction. Construction loans are a short-term loan that covers only the costs of the home building or renovation. Once construction has been completed, most homeowners refinance into a more traditional mortgage like an FHA, Conventional, or VA loan.
Construction loans are also ideal for investors who flip properties. We offer a fix and flip bridge loan where you would be able to finance the cost of the rehabilitation, and sale the property for a higher after-repair value. Ideally, the construction would be completed and the subsequent sale would take place before the temporary loan expires--usually a year.
Ground-up Construction Loans
This type of loan is a temporary loan option for buyers looking to build their dream home, but need to finance the cost of the construction.
Renovation Loan
A renovation loan, also known as an FHA 203(k) loan, allows a buyer to purchase and renovate their new home to customize it to their liking.
Fix and Flip Loan
A perfect option for our investors who buy outdated properties that may have deferred maintenance, with a goal to sale the property for a higher price than what they bought it for.
