Houston Construction Mortgage Loans

Houston construction mortgages are loans that are based on ideas. Essentially, to secure a construction mortgage, you must be able to sell the lender on your idea. Since there is no existing property on the land you've chosen, you have to be able to show the lender that you've made a viable and valuable choice.

Click Here For Houston Construction Mortgage Loans!

Houston construction mortgage loans differ from standardized loans. Usually, these loans require interest-only payments while the properties are being constructed. Once construction is complete, payment is due. However, some people choose to opt for construction-to-permanent loans. This type of loan converts the construction loan to a mortgage when the building project is complete.

Rates for Houston Construction Mortgage Loans

Often, construction mortgages are variable-rate loans. To come up with your interest rate, you and your contractor will usually collaborate with the lender in establishing a schedule and determining the interest rate that will be charged at each stage.

There are many variables to consider in obtaining a Houston construction mortgage. For example, if you already own land on which you hope to build, you may be more attractive to lenders, as your land can be considered equity. This equity can serve as collateral for your construction mortgage. Secure the Houston mortgage you need quickly and at a low rate. Call us at Southern Lending Corporation at 1-866-614-2700 ext. 100 or send e-mail to us at info@southernlendingcorp.com. We are standing by to assist you, so call right now!