What is a Construction Loan?
A construction loan is short-term financing that is used during the construction or remodeling of your home. This loan is then converted into a standard mortgage without the need for a separate closing.
How do Construction Loans work?
If you are approved for a construction mortgage, the construction company will draw on the loan for materials and labor. Once the construction or remodeling is complete, the construction loan is converted into a permanent loan with regular monthly payments.
Construction loan requirements are more stringent than those for a conventional mortgage. Interested in building? Reach out to us and we'll help you find the right path!
Why choose JPAL Mortgage?
JPAL Mortgage has the mortgage financing experience you need to help design customized financing solutions for our customers. JPAL Mortgage works with many fantastic investors and realtors to offer loan programs that provide our borrowers with the best financing solutions possible.