At Cornerstone Capital Lending we make it easy for you to secure a construction financing loan that suits your specific individual needs. It can be difficult to secure appropriate finance for construction projects because there are so many factors to take into consideration. From interest rates to terms of lending and early repayment penalties are just some of the things that should be given some thought.
Luckily our expert, experienced staff are available to guide you through the process and ensure that you make fully informed borrowing decisions. Our process is kept as simple and straightforward as possible and when you complete our quick online form a consultant will get right back in touch with you to discuss your options.
In many cases we will be able to give a fairly accurate assessment of your lending options at an early stage. Should we require any additional information we will ask and we will keep you up to date with your application progress. We will even work with you and your lender to complete the loan process quickly for you so you can concentrate on planning your construction project.
There are two main type of construction loan are available to our clients:
- Construction to Mortgage Loans – These are specialist loans that offer you the opportunity to finance the building of your home. Upon completion of building the loan converts to a mortgage type loan secured against the property.
- Lot Purchase Loans – That enable you to purchase the land on which to build your property. These are sometimes taken out with an additional loan to cover the building costs as well.
In order to qualify for one of our construction financing loans a number of conditions must be met. Although, these vary from lender to lender as a general rule the proposed property must be lived in by the person taking out the loan and must be a single, detached property. This is so that the owner of the property can take full responsibility for the construction and that there are no potential conflicts of interests with residents.
Whatever your construction financing requirements Cornerstone Capital Lending are here to help and you can rest assured that your dedicated consultant will always be on hand to support you in securing the finance you need to turn your building project dream into reality. If you have any questions please get in touch and we will be happy to help.