Sentences with phrase «mortgage after construction»
The lender converts the construction loan into a mortgage after construction.
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Stand - alone construction loan: If you take a stand - alone loan, you'll eventually need a separate mortgage loan after construction is completed.
After the house is built, you will pay off the construction debt in the form of a traditional mortgage.
Construction - to - permanent loan: This is a loan that combines the construction loan and standard mortgage, so you don't have to refinance after construction or go through another closConstruction - to - permanent loan: This is a loan that combines the construction loan and standard mortgage, so you don't have to refinance after construction or go through another closconstruction loan and standard mortgage, so you don't have to refinance after construction or go through another closconstruction or go through another closing process.
The house easily rents for $ 4,500 / month and my carrying costs are $ 2,408.57 / month (my mortgage payment after I refinanced the construction loan).
The final «end loan» after the construction is done can be obtained from any mortgage lender, but of course we hope you select us here at Mortgages Unlimited.
That changed after William Lyon Mackenzie King created the Canada Mortgage and Housing Corp. at the end of the Second World War to backstop the construction of new homes for returning soldiers.
Many economists blame tightening mortgage - approval standards after the housing collapse for the anemic growth of single - family construction, still less than half of 2006 levels.
A rollback of rules under Dodd - Frank, the major financial services reform law enacted after the mortgage crisis, might well lead to an increase in lending on both the residential and commercial sides, Yun says, noting that community banks are the biggest source of loans for home construction and small commercial transactions.
She began her long career in mortgage lending in 1983, after having studied Architectural Design & Construction Engineering at Colorado State University.