Having a hard time finding a home you love? Do you wish you can just finance and build your dream home but don’t know where to start? If so, then a construction to permanent loan may be perfect for you! This type of loan comes with many financial benefits and is incredibly convenient.
Don’t Pass on A Great Plot of Land
Most potential buyers will pass on a plot of land because they would not know where to start with the construction of a new home. They think that financing the construction is not possible. However, with a Construction to Permanent Loan, it absolutely is!
Individuals and Homes Eligible for A Construction To Permanent Loan
Many buyers are surprised to hear that they qualify for this loan. Most people that are interested in building a new home are eligible. This includes buyers looking to purchase a primary or secondary home. Modular, manufactured, and new construction homes are all eligible.
Financial Benefits of Construction to Permanent Loans
You may be thinking, there has to be a catch…you must need a large down payment, there are multiple loans I need to worry about, or I need to pay closing costs on multiple loans. All of these are not true! There are very low down payment options available for eligible applicants. In addition, the build and finance costs will all be bundled into one loan. You will not have to worry about being approved for two different loans and making two separate payments. Furthermore, since it is only one loan, there is only one closing and one set of closing costs.
Stop thinking that you can’t finance the complete construction of your dream home! Mr Renovation has helped many people build their dream home with the help of this loan. He can answer any of your questions and get the loan process started.