Construction Project Financing -Quickest Funding, Lowest Rates | Freedomcapital

Construction Project Financing -Quickest Funding, Lowest Rates | Freedomcapital Freedom Capital is specialized and experienced in providing topnotch quality services to our valued clients, especially when it comes to construction financing. With our added benefit of providing customized and tailored solutions, from flexible open terms to multiple draw options, Freedom Capital has all the solutions with costs funded up to 100%.

Banks these days are looked upon as non common-sense lenders. They have become much stricter and firmer in their loan approval process. Not only that, conventional banks offer restrictive types of lending offers as well as limited amounts of financing.

You might go to a bank in hopes of applying for a construction financing loan of $3,000,000 only to find that the bank will approve $2,000,000.

What sets Freedom Capital apart from the banks is the fact that we provide our borrowers with the finances they need for their various projects simultaneously. We do not limit the amount of financing our borrower needs for their projects going on at the same time.

Not only do we provide the financing, we provide quick and expert solutions to our borrowers regarding their project. We deeply analyze our client’s project and come up with a solution that has flexible draw options. We want to ensure the success of our borrowers.

At Freedom Capital, we offer multiple options to our clients that most conventional banks don’t.Keeping our client’s best interest in mind, we offer them our range of financing option as well as professional advice. Our options are not restricted to the borrower that leads to their project being held back. We place our clients and their needs as our top priority.

If you wish to know more about us and how we will be of service to you, contact one of our professional representatives.

WHAT IS MEANT BY THE TERM “CONSTRUCTION FINANCING”?

Construction loans are short-term loans that are utilized for the purpose of financing the construction of a real estate project. Also called a self-build loan, construction financing is normally chosen by home buyers or builders who are planning on building a personalized and custom-built project.

Types of Construction Loans If you are looking for a way of financing your construction project, you should be wary of your options.

There are a few types of construction mortgages that you should be familiar with. You will find it extremely helpful when you go to your dependable and trustworthy mortgage solution provider for your construction loan.

Be it single-family home construction financing, multi-family townhouse and condo project financing or a multi-million-dollar financing project, Freedom Capital is there to offer you the finances you require as per your need.

I. Construction Only Financing If we take a look at the old-school method of funding gut remodels, custom and new homes, the only option available was construction only loans. Builders and developers would purchase the land and then look for a mortgage company to finance the building structure as draw financing or numerous reimbursements.

When the maturity period of the short-term loans ends, the borrower is required to selloff the asset in order to recapitalize or put in an application for another permanent loan.

Although this option is still available to this day, with banks slow to give loans, reliable and responsible private mortgage lenders have stepped up and filled the need.

Freedom Capital is a renowned mortgage solution provider that gives you the option to have access to your type of construction loan. You can depend on us for your singlefamily home construction financing, multi-family townhouse and condo project financing projects. We won’t let you down.

II. Construction-to-Permanent Loans

Construction-perm loans are one-time close loans that turn over as fixed term loans when the construction gets completed. This helps save on closing costs, time and paperwork. The fees you are required to pay is reduced since there is only one closing associated with the construction-perm loan.

At the time of the construction, you are required to pay the interest on your remaining balance. During the construction stage, the interest rate will be variable and fluctuate by means of the prime rate. In case the Federal Reserve increases or reduces the short-term rates of interest at the time your real estate is being constructed, your interest rates will be affected and modified.

The lender converts the construction mortgage into a permanent loan when the contractor completes the construction of your property. Like other mortgages, permanent mortgage let you have the liberty to choose either an adjustable-rate mortgage or a fixed-rate mortgage, as well as state the loan’s term.

There are many mortgage solution providers who give the option to lock a topmost mortgage rate at the time when the construction commences. Freedom Capital, your reliable and responsible mortgage service lenders will require you to pay an initial payment of your permanent mortgage.

If you wish to find out more about the types of construction loans and which one is best suited for you, contact one of our qualified representatives at Freedom Capital to learn how we can be of service to you.