Welcome to Construction Loans Guide
Construction Loans In Atlanta Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
New Construction Loans: What to Look For
from:There are certain important milestones in almost every American's life. You get married, you have children, and you own your own home, although not always in that order. Owning your own home is definitely the most expensive of these options, and also the most broad. Sure, you could be like everyone else and buy an already built home in your neighborhood, but that isn't always the best option. If you can afford it, it is often best to build your own home. This way, you get the exact house that you always wanted.
If you plan to build your own home, you don't have to pay all of those costs upfront. Instead, you can pay for it by looking into new construction loans. These loans are great for first time home builders. They provide you with the money that you need in order to pay for materials as well as the fees to your contractor, architect, electrician, and whoever else will help you with construction your brand new home.
New construction loans are much more complicated than your average mortgage loan. In fact, they couldn't be any more different. As you may already know, mortgage loans take care of the cost of owning a home. Each month, you pay a portion of the money you owe, as well as any interest that has accrued.
With new construction loans, this works differently. During the construction of your house, all you have to pay for is the interest on your loan. This saves you a lot of money during that time. It is especially helpful since most people also have to pay for rent on another home or apartment while they are building a new one.
After the construction is over and your home is completed, you will have to pay for the full balance of any new construction loans that you took out. Unfortunately, this is too much money for the average person to spend. Luckily, there are other options. Ask any prospective lenders if they offer construction-to-permanent loans. With this, your construction loan will turn into a mortgage loan at the end of building. This means that you won't have to pay all of the money when your house is done, and it will just go into regular mortgage payments, saving you hassle as well as money.
New construction loans are perfect for when you are planning on building your own home. Not only will you get the money that you need in order to have an amazing, personalized house, but you will also only have to pay interest during its construction.
Construction Loans In Atlanta News
Preferred Apartment Communities, Inc. Announces Stock Transfer by CEO
ATLANTA, May 21, 2012 /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS) today announced that on May 17, 2012, John A. Williams, the company's President, Chief Executive Officer and ...
Read more...Preferred Apartment Communities, Inc. Announces Second Quarter 2012 Common Stock and Monthly Preferred Stock Dividends
ATLANTA, May 15, 2012 /PRNewswire/ -- Preferred Apartment Communities, Inc. (APTS) today announced that on May 10, 2012, its Board of Directors declared a quarterly dividend of $0.13 per share ...
Read more...Preferred Apartment Communities, Inc. Announces Mezzanine Loan Investment Closing
ATLANTA, May 8, 2012 /PRNewswire/ -- Preferred Apartment Communities, Inc. ("PAC") (APTS), a Maryland corporation, today announced that it closed on a mezzanine loan investment of approximately ...
Read more...Preferred Apartment Communities Announces Stock Transfer by CEO
ATLANTA, -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS) announced that on May 17, 2012, J...
Read more...SunTrust’s Rogers Says JPMorgan Loss ‘Black Eye’
SunTrust (STI) Banks Inc. Chief Executive Officer William Rogers said the economy in the Southeast, which has lagged behind the U.S. recovery the past three years, is accelerating led by new construction of condominiums in Miami.
Read more...