Specialized In Jumbo Loans, Investor Loans, DSCR Loans, Non-QM Financing, Commercial Mortgages, and Tax-Informed Lending Strategies
Published By
David Ghazaryan
Owner / Broker / Banker
Contact Me At
(702) 766-3744
NMLS 1486726
Streamlined Financing: A one-time close construction loan bundles the financing for land purchase, the building process, and the final mortgage into a single transaction. This simplifies the process by requiring only one application, one underwriting process, and one set of closing costs.
Unique Qualification: Lenders qualify you based on the home’s projected future value, or ‘as-completed’ value, alongside a thorough review of your finances and your chosen builder’s credentials. This ensures you can afford the final home and that the project is viable.
Controlled Payouts: To protect all parties, the lender pays the builder in stages through a pre-approved draw schedule. Funds are only released after an inspector verifies that specific construction milestones, such as the foundation or framing, have been completed to standard.
Borrower Payments: During the construction phase, your payments are interest-only and are calculated solely on the funds that have been disbursed to the builder. This keeps your monthly obligation lower while the home is being built.
Read the full blog article here: https://www.iqratemortgages.com/blog/using-a-construction-loan-to-build-a-home-in-nevada
People think you need two loans. This is simply not true. I, David Ghazaryan, structure your loan to close just once. We lock your final mortgage rate before the house is built. This protects you from higher rates while your home is built. The builder gets paid in stages, keeping your project safe. My full analysis is in the linked article. Follow me there.
Read Blog Here: https://www.iqratemortgages.com/blog/using-a-construction-loan-to-build-a-home-in-nevada
