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Home Construction Loan

Planning to build your own house? Is it that the huge financial requirement for it, crafting those line of thoughts in your forehead? So seek help of the professional service provider of the home construction loan lenders and feel the difference. Home construction loan is typically designed to cater to the need of your home construction whilst allowing the borrower to take a substantial amount as loan to meet his specific financial requirements.

Home construction loan system with its specific structure not only makes aids in availing a loan to support the home constructional work but also permits the borrower to experience a hassle free home remodeling and restoration works while offering him quite a lump sum amount as loan to support the need.

Construction home loans have been categorized as the story loans as the lenders needs to understand the story behind requirement for the loan prior financing the borrower. Availing a home construction loan is therefore easy and typically requires the interest only payments during the construction of the home. The home construction loan becomes due with the end of the construction and with the issuance of the certificate of occupancy.

Flexibility laces the structure of the construction home loan and the interest rate for this loan is generally a variable one. The lender, the home contractor and of course the borrower with reciprocated understanding establishes a draw schedule in regard to the loan period. The interest rate for the home construction loan is however charged on the loan amount that is disbursed. Home construction loans offer the lender with the liberty to finance on the total project cost hence is regarded as one of the most well accepted loan options to bank upon.

Another important feature of the home construction loans is that it can also be converted into a mortgage loan after the completion of the project and also provides the advantage of experiencing one application and one closing to enjoy the affordable financial deal.

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Accu-Check Home Inspections
900 Agee Road, Frankfort, KY 40383
Phone:- (859) 879-5011
 
American Founders Bank
194 Versailles Road, Frankfort, KY 40601
Phone:- (502) 695-3278
 
General Financial Services
193 Versailles Road, Frankfort, KY 40601
Phone:- (502) 695-9477
 
Citifinancial
1267 US Highway 127 South, Frankfort, KY 40601
Phone:- (502) 875-5730
 
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