New Construction Loans: Lending A Hand In The Construction Process
- Only one set of closing costs including the lot purchase, construction and permanent loan.
- 10% down payment is needed at the time of construction loan closing (subject to end loan qualifications)
- Interest only payments are collected DURING construction. Interest payment is based on the current drawn out balance. Interest payments may be deferred until project comletion for qualifying Gonyea customers.
- Upon completion of your new home, we simply roll the construction loan into the permanent loan of your choice.
- Extended rate options available
- One loan (with or without MI) or two loans
- ARM or fixed rate conventional or Jumbo loan program
- Available for new home construction or major remodeling projects.
- Lower fees than for two separate loans.
- As little as 10% down payment.
- Lot loans available with as little as 20% down and your lot equity will be credited towards your down payment for the construction loan.
- Bridge and Home Equity loans available for borrowers with a home to sell.
Vice President | Tradition Mortgage
Questions? Concerns? Connect with Dylan Niska! Dylan has been a partner with Tradition Mortgage since its inception in 1998. As a loan officer, he has developed a large referral network based on trust and professionalism. Reach out to Dylan today!
Office: (952) 252-4680 | Cell: (612) 396-7272 | NMLS#342545