Construction loans are available to individuals or builders. The interest rate is fixed for a term not to exceed 12 months and the maximum loan amount is 80% of the appraised value. In addition, we also provide permanent loan financing at a guaranteed rate.
Our construction loans provide the following services:
Bill Paying Service
Generally, invoices are paid the same day and are guaranteed to be paid within 3 days of receipt.
We obtain W-9 information and complete the 1099 annual reporting.
We will obtain lien waivers for title insurance requirements.
Monthly Loan-In-Process Statements