Construction/Perm Finance has returned to the mortgage marketplace. While the loan product can have different names the key component borrowers benefit from is a single escrow closing. This is generally accomplished by combining a 12 month term construction loan with progressive payments and converting to a permanent 30 year fixed or adjustable rate loan. The conversion takes place upon the completion of the home.
Consumer Confidence is often mentioned as a necessary ingredient for a real estate market recovery. However, the return of construction lending, to the marketplace, is a good sign of the lending community's confidence in stability of the present real estate market. While inventories maybe plentiful in some areas there are still Buyers who have been unable to find the exact home and location they are looking for. Engaging a design build construction company and obtaining construction/perm finance can be the perfect solution.
Sellers: Contact Chain Real Estate for a free market evaluation for your home because:
Buyers: To schedule a viewing of one of these unique homes contact Chain Real Estate
Information deemed reliable, but not guaranteed. This is not an offer to lend.