What is a Construction Loan?
A construction loan is a short-term loan that funds the building of a new home. Funds are disbursed in draws as construction milestones are hit. Once the home is complete, the loan converts to a permanent mortgage — often in a single "construction-to-permanent" close.
Key Features
- Funds disbursed in construction draws
- Interest-only during construction
- One-time close construction-to-permanent options
- Fixed and adjustable permanent rate options
- Custom home builds and spec construction
- Available for primary and investment properties
Who Is This For?
Borrowers building a custom home from the ground up or developers financing new construction who need flexible short-term funding with a clear path to permanent financing.
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Talk to an Assurance Mortgage Partners loan officer about your Construction Loan options today.
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