Beach Haven West Real Estate Construction Loans

It is important to understand that lending rules differ between banks, and the rules and regulations for qualifying will vary greatly depending on one’s individual situation. Therefore, it is important to speak with a qualified mortgage professional to understand the best options that are available for you. That said, there are some general statements that can be made about Beach Haven West construction loans that can help answer some questions. For example:

• The number of loan products available depending if the home is a primary residence, a vacation property, or investment property.
• Many construction loans carry a higher interest rate and may be interest only with no payments made towards the principal loan balance
• Money is usually dispersed in payments, often known as draws, to the builder as the project progresses

Construction loans can be a gateway to a wise real estate investment in Beach Haven West however it is important to understand the limitations and regulations surrounding this type of financing. Building a new home can be an exciting and profitable endeavor, but one must be aware of all details surrounding construction financing before entering into such a project.

Beach Haven West Rehab Loans

This special program allows for the purchase and rehab of a home all in one simple FHA loan. This program offers the unique features that make FHA loans excellent financing solutions in today’s market. For example, this loan is available for both purchases and refinances, it is available for 1-4 family dwellings, there is the FHA down payment requirement of 3.5%, the loan is assumable and credit qualifications are flexible. It is VERY important to remember that not all buyers will qualify  for loan products so it is best to speak with a lender to see what options are available for a home purchase or refinance.

For the house that’s almost perfect, a Beach Haven West Rehab Loans can be the perfect solution since a renovation mortgage allows for the purchase and rehab all in one. The funds may be used for things liker:

• Remodel the kitchen or bath
• Renovate or add a room
• Paint the house or add siding
• Add a porch, deck or patio
• Replace a leaky roof
• Put in new flooring, carpeting or tiling
• Update electrical wiring, plumbing or heating systems

Get Your Beach Haven West Home Search Started

Nathan Colmer

Contact Nathan

C: 609.290.4293 | O: 609.492.1511 | E: ncolmer@vandykgroup.com