Building a House with an All-In-One Construction LoanBy Debbie Wilson
Loan Page Columnist
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Building a new home can be one of the most exciting times in your life. But, choosing the right type of mortgage financing for you new home loan can be a bit overwhelming. Luckily, it doesn't have to be. With an all-in-one construction loan, you can say goodbye to your mortgage financing headaches and hello to a smooth home-building process.
What Is an All-In-One Construction Loan?With an all-in-one construction loan, you can build your home quicker, more affordably, and with fewer problems than you would with a typical new home loan. How? The answer is simple. With an all-in-one construction loan, you get one rate and one term. Most construction loans of this type offer a 30-year, fixed rate, construction-to-permanent new home loan.
All-In-One Construction Loan AdvantagesThe most unique feature of an all-in-one construction loan is that you avoid the hassles of filling out multiple applications for multiple loans. One application will cover the entire loan process, from construction to permanent new home loan. Secondly, with an all-in-one construction loan, you'll have a variety of mortgages to choose from. That means you'll have no problem finding one that fits your specific home-building needs. And finally, a typical all-in-one construction loans will disburse funds for your new home project directly to your contractor, which will give you fewer irritations and hassles with finances.
Get Building TodayOnce you've secured your all-in-one construction loan, you can focus your energies where they're really needed: choosing a contractor, settling on a location, deciding upon what color to paint the living area, or which type of material to use for kitchen countertops.
With a myriad of decisions to be made, an all-in-one construction loan lets you control your home-building process by providing a smooth transition from planning to building to living.
About the Author
Debbie Wilson owns and operates a lakeside resort. Her previous experience includes profitability consulting for a national healthcare company. Debbie holds a B.A. in Business Management with a minor in Physical Education.
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