Ground-up
construction.
For builders and developers, from the lot to the roof.
The program
From the lot to the roof.
A construction loan is short-term financing that pays for a project as it is built. Instead of one lump sum, the money is released in draws as each stage is finished and inspected, and interest is usually charged only on what has been drawn.
When the build is done, the loan is paid off by permanent financing or by the sale of the property. Some loans roll into a permanent mortgage at completion. Vadim helps builders and developers line up both.
What to know
Four things to know about construction loans.
- 01
Plans come first
Expect the lender to review your plans, budget, builder and schedule.
- 02
Draws and inspections
Each draw follows an inspection of the work completed.
- 03
Interest on what’s drawn
Payments during the build are usually interest on the money drawn so far.
- 04
The exit
Know how the loan ends: a permanent loan, or the sale of the finished property.
Working with Vadim
One broker, from the first call to the closing table.
Talk it through
A call about the property, the numbers and how you plan to exit.
Apply once
One application, while Vadim looks at several lenders.
Vadim shops the loan
As a broker, he compares programs from multiple lenders and brings you the options.
Close
He stays with you through underwriting, the appraisal and closing.
Loan programs
Three ways to fund the next deal.
For flippers, landlords and developers. Buying a home to live in? See the home loans.
