Construction Loans

Construction Loans

Short-term (usually 3 years) real estate financing secured by a mortgage on the property being financed. This loan is meant to cover the cost of land development and building construction, and is disbursed (1) as needed, (2) as each stage is completed, (3) according to a prearranged schedule, or (4) when some condition is met. Construction loans are paid off from the proceeds of permanent financing (usually for 20 to 30 years), which in turn is repaid from the cash flow generated by the completed building, and is arranged before the construction loan is disbursed. Also called building loan, construction mortgage, or development loan.

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Licensing

William R. Winkelman
NMLS: 64660
Managing Partner

Kris Savard
Managing Partner

Charles Munroe
NMLS: 244436
Managing Partner

Equal Housing Lender

Contact Us

Commercial Property Solution
408 Sutton Place

Abingdon, MD 21009
NMLS: 244436

Number:
(888) 834-9354

Hours:
MON-FRI 7AM - 4PM