With the inventory of quality existing homes being limited, many would be homeowners are turning to new construction as an answer.
An up tick in new construction while favorable for builders can pose challenges for clients and Realtor’s who work to help find financing for their clients. What many do not realize is the market for construction lending is far different from a typical new home purchase. As a matter of fact, many lenders do not offer a construction loan product.
As a bank, we have money to lend for new construction and offer one of the best construction lending products on the market. Construction loans typically come in two different options with some variations: