Construction Loan

A means of short-term capital for

long-term gain

The Construction Loan

APPLY

Feature

Benefits

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction-to-permanent arrangement

 

Upon completion, which is defined by a certificate-of-completion by the construction company or engineer and full payment of contractors (and often their signatures on lien releases), we will roll the construction loan into a fixed rate mortgage.

 

 

Ready to apply today?

Up-Front Closing

Borrowers don’t have to re-qualify at the end of construction

Construction Loan Features and Benefits

Low Credit Score

Borrowers with credit scores as low as 620 can qualify

Low Down Payment

Down payments as low as 3.5% with an FHA Construction Loan

Any Project

New build or kitchen renovation, there are construction loans for your need

Debt-to-Income Ratio

Borrowers with debt-to-income ratios as high as 50% can qualify

Other Loans Options

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

APPLY

MORTGAGES

RESOURCES

ABOUT

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

APPLY

MORTGAGES

RESOURCES

ABOUT

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

A means of short-term capital for

long-term gain

The Construction Loan

APPLY

Feature

Benefits

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction-to-permanent arrangement

 

Upon completion, which is defined by a certificate-of-completion by the construction company or engineer and full payment of contractors (and often their signatures on lien releases), we will roll the construction loan into a fixed rate mortgage.

 

 

Ready to apply today?

Up-Front Closing

Borrowers don’t have to re-qualify at the end of construction

Construction Loan Features and Benefits

Low Credit Score

Borrowers with credit scores as low as 620 can qualify

Low Down Payment

Down payments as low as 3.5% with an FHA Construction Loan

Any Project

New build or kitchen renovation, there are construction loans for your need

Debt-to-Income Ratio

Borrowers with debt-to-income ratios as high as 50% can qualify

Other Loans Options

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

A means of short-term capital for

long-term gain

The Construction Loan

APPLY

Feature

Benefits

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction-to-permanent arrangement

 

Upon completion, which is defined by a certificate-of-completion by the construction company or engineer and full payment of contractors (and often their signatures on lien releases), we will roll the construction loan into a fixed rate mortgage.

 

 

Ready to apply today?

Up-Front Closing

Borrowers don’t have to re-qualify at the end of construction

Construction Loan Features and Benefits

Low Credit Score

Borrowers with credit scores as low as 620 can qualify

Low Down Payment

Down payments as low as 3.5% with an FHA Construction Loan

Any Project

New build or kitchen renovation, there are construction loans for your need

Debt-to-Income Ratio

Borrowers with debt-to-income ratios as high as 50% can qualify

Other Loans Options

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

Feature

Benefits

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction-to-permanent arrangement

 

Upon completion, which is defined by a certificate-of-completion by the construction company or engineer and full payment of contractors (and often their signatures on lien releases), we will roll the construction loan into a fixed rate mortgage.

 

 

Ready to apply today?

A means of short-term capital for

long-term gain

The Construction Loan

APPLY

Up-Front Closing

Borrowers don’t have to re-qualify at the end of construction

Construction Loan Features and Benefits

Low Credit Score

Borrowers with credit scores as low as 620 can qualify

Low Down Payment

Down payments as low as 3.5% with an FHA Construction Loan

Any Project

New build or kitchen renovation, there are construction loans for your need

Debt-to-Income Ratio

Borrowers with debt-to-income ratios as high as 50% can qualify

Other Loans Options

A means of short-term capital for long-term gain

Construction Loan

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

Construction Loan Features and Benefits

Ready to apply today?

Other Loans Options

Contact Us

Headquarters

333 W. Main Street,

Suite 447

Ardmore, OK 73401

1-888-503-3530

Speak to a mortgage advisor about our services

Country Home Loans © 2016, NMLS # 179350

Connect With Us:

A means of short-term capital for long-term gain

Construction Loan

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

Construction Loan Features and Benefits

Ready to apply today?

Other Loans Options

A means of short-term capital for long-term gain

Construction Loan

How Construction Loans Work

 

Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan. We offer competitive variable rates during the construction term that easily transition into a fixed rate mortgage upon completion.

 

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. Our construction program will require that a draw schedule be implemented and carried out through a series of inspections, like foundation and framing; just to name a few.

Construction Loan Features and Benefits

Ready to apply today?

Other Loans Options