Building Success
Construction Loans
Advantages
Pay interest only during the loan term
Customize your space to your specifications
Loans cover permits, inspections, and assessments
Convert raw land to buildable property
Understanding Your Construction Loan Options
Lending Overview
When your business can’t find the real estate it needs to succeed, create it instead. Construction loans make buying and building the property you want affordable. With tiered financing that pays as you build, you’ll never get stuck with a full loan if your project hits a roadblock. Loans are available for land acquisition and development so you can prepare raw land ahead of construction. Whether you’re building investment properties, adding onto existing space, or reconfiguring interior walls, a construction loan can help. For the best construction financing, be sure to seek a local lender, one that understands the market where your property lives. As you build, you’ll only pay interest on the loan. Once your project is complete, you can pay the principal in one balloon payment or refinance into a commercial mortgage. Construction loans are meant as short-term financing to cover expenses while your project is underway. Term-to-perm loans convert to long-term financing when the job is complete.
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Strategic Use of Construction Financing
How to Effectively
Apply Funds
Where you start with construction financing depends on where your project begins. If you’re starting from raw land, you’ll need debris removal, grading, utility infrastructure, and all of the relevant permits and inspections. A land acquisition and development loan can help you buy the property and prepare it for construction. If your land has already been prepped, a ground-up construction plan with tiered financing can fund every stage of your project until you’re ready to cut the ribbon. Construction loans will work for smaller projects like upgrades and renovations too. Force appreciation on existing property by adding amenities that draw new clientele. Explore the possibilities with your broker.
Customized Solutions for Every Construction Project
Tailored Lending Services
Retail
Shopping centers and boutique retail spaces depend on the right environment to drive consumer traffic. When you utilize a construction loan, you control the environment and the narrative. Fund your next retail investment with an affordable construction loan from our network of reliable lenders. Your broker will show you how.
Office
Income-generating properties like office buildings can be a great investment when managed well. But to get started earning income from office rentals, you need to build them first. The short-term nature of construction loans means you can use income generated by the new property to pay the loan down faster.
Multi-Use
As communities redesign and rethink living spaces, structural designs adapt. Construction loans can be used to fund retail space at ground level with apartments above or an office complex with an attached parking garage. If you can imagine it, our knowledgeable brokers can find a way to finance it.