Our construction loan programs can be tailored to your specific needs. Below is some information to help get you started. To get started immediately click here for our on-line application.
Return to Loan Programs
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Borrowers
will need a construction loan if they intend to purchase a home in a
new development or if they are building a custom home. Construction
loans are necessary because of the longer time frame and special
requirements of the building process.
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Many
mortgage lenders offer borrowers One Time Close construction loans.
This type of construction loan will finance the construction of a
primary or secondary residence and the permanent loan when construction
is finished. A One Time Close construction loan requires borrowers to
sign only one set of documents and allows borrowers to lock in a rate
for the permanent loan at this time. This type of home loan will allow
for 12 months of construction time and during the construction period,
interest is charged only on the funds that have been disbursed.
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There
a few documents and qualifications that borrowers will need to have
when they begin the application process for a construction loan. Some
of the qualifications mortgage lenders will require are a minimum
credit score of 620 and sufficient liquid assets. The documents
construction lenders will ask for include a building department permit
and many require that construction be completed within 12 months.
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A KANSAS CITY construction loan can help you build the home of your
dreams in KANSAS CITY. Our KANSAS CITY construction loan experts can
help you choose the KANSAS CITY construction loan that is right for
you. Contact 360 Mortgage Inc. to discuss your KANSAS CITY construction
loan.
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