Construction Loans with Kupina Mortgage Team

A construction loan is basically short-term financing agreement that covers building costs while the building and renovation works are in progress. The Kupina Mortgage team are experts in setting up new home construction and mortgage loans. Our mission is to help you build, afford and enjoy the home of your dreams.

Types and terms of construction loans vary, but one of the more popular products is a one-time close construction loan or construction-to-permanent loan. It covers building costs and then becomes a regular mortgage once the home is finished. During the building phase, the loan acts like a line of credit that can be tapped each time more funds are needed to proceed with the project.

Both builders and buyers can benefit from the construction loan in several ways. Some clients use construction loans to build their vacation homes, while others have used them to pay for major renovations, like adding extra extensions or renovating a basement space in their existing homes. Part of the loan’s appeal is that it helps borrowers with cash flow, since they typically just make interest-only payments during the construction period on the amount that has been used until completion of the project. Once construction is completed, monthly principal and interest payments will be due.

Despite their advantages, constructions loans are not always easy to navigate. To figure out how much to lend, an appraiser needs to determine how much the home will be worth once it is completed. Often down payments are also required upfront in cash or equity form.

Kupina Mortgage Team can help match you with the ideal construction loan that will generate profit and give you a greater return on investment. 1-888-955-9011