Construction Loans

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Construction Loans

• Global Capital Commercial

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Construction Loans
Construction loans are higher-interest,
shorter-term loans that are used to cover the
cost of building or rehabilitating your home.
Unlike a traditional home loan, which is based on
the fair market value of the home and determined
by the home's condition in comparison to other
recent sales, construction loans are based on
what the projected value of the home will be once
the work is complete.
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Construction Loans
Construction loans differ from other home loans
in that they are based on the potential value of
your home, instead of actual value.
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Construction Loans
Home construction can often surpass anticipated
costs. To protect borrowers from unexpected
expenses, a pad of about ten percent of the
loan is added to the total amount of the loan.
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Construction Loans
An option for those that do not qualify for
standard construction loans are loans insured or
funded by the Rural Housing Service(RHS). The RHS
works under the Department of Agriculture, and
aids families living in rural areas who do have
adequate housing by providing loans that will
enable them to purchase or construct homes in
those areas. These loans require no down payments
and incur very low interest.
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Construction Loans
Generally repayment for construction loans does
not begin until after the construction has ended.
The time period allotted for construction is
usually a year to eighteen months. No payment
should be made before the homeowner is able to
walk into his or her brand new home.
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Global Capital Commercial (GCC) has extensive
experience in structuring development finance
facilities across Australia, whether residential,
commercial, office, industrial, retail, tourism
or land subdivisions. In addition, our unique,
AI-driven technology delivers optimum borrower
solutions fast.
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CONTACT US

• BUSINESS NAME Global Capital Commercial
• BUSINESS WEBSITE https//www.globalcapital.com.au
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