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Construction Loans

Construction Loans typically require “out of the box thinking”. There are many challenges that a borrower could face during construction or within the construction-to-permanent time frame. Our experience and database of lenders will prove to be your greatest assets for all phases of your project.

A loan that combines both construction and permanent financing into one loan with only one closing cost (eliminates separate closing costs) typically a construction can last for a period of six to twelve months.  When construction is complete, the loan converts to a permanent mortgage.  In order to review a construction to perm loan, additional documentation must be provided along with the standard credit and income documentation.

Mortgage Rates NY will be happy to advise you on what loan type and program is right for you. 

Call Mortgage Rates NY today, at (888) 996-9529.