Dallas Construction Loan

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If you are in need of a construction loan in
Dallas for your home, you may consider giving
Prospect Homes a call. Prospect Homes is a
full-service building company that offers access
to builder financed construction loans, excellent
customer service, and flexible terms. A
construction loan is all about your vision, plans
and credit underwriting conditions. The lender
has to know the story behind the planned
construction before theyre willing to lend on
the project. Construction loans typically require
interest-only payments during construction and
convert to permanent traditional terms after
completion.
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Construction loans in Dallas are usually
variable-rate loans and priced at a spread to the
prime rate or some other short-term interest
rate. You, the contractor and the lender
establish a draw schedule based on stages of
construction, and interest is charged on the
amount of money disbursed to date. Another
variable in construction loans is how much of the
project cost the lender is willing to lend. If
you already own the land, it can be considered as
equity on the construction loan.
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When you are ready to make the vision of your new
home a reality, let our experienced team help you
reach your goals. Prospect Homes builder
finance programs are designed for those who are
building a home from scratch and require
construction financing. We make the entire
process simple, beginning with a streamlined
application process through quick disbursement
for qualified expenses to keep your new home
process on track.
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Loan terms will be structured to meet the timing
needs of your individual project, with interest
collected only while construction is
underway.Its typically more difficult to get a
construction loan than a regular mortgage. Hire
Prospect Homes to build with and get a dedicated
partner in helping you get the financing and
building partner you need.
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CONTACT US
Prospect Custom Homes LLC
214-850-8717
Brian_at_ProspectHomes.net
5930 Royal Ln E 123
Dallas TX 75230
Prospecthomes.net