Construction Loan
A construction loan is used for building a new home and all the costs associated with it. Since these loans are a higher risk for lenders, they will have higher interest rates than conventional purchase loans. The payment plan for these loans are timeline based and borrowers initially make interest only payments until their renovation or construction project is complete.
Renovation and Rehabilitation Loans
These loans are used to upgrade an existing home or property. With these loans, the homeowner will be in charge of
managing the budget, plan, and payments to contractors.
Other construction loans:
- Construction-to-permanent loan
- Owner-builder construction loan
- End loan
Reach out to Union Capital Mortgage loan officers today for more information and assistance with renovation and
rehabilitation loans!
Portfolio Loans
Portfolio loans are kept in-house instead of being sold to another company. Portfolio loans are a great option for self-employed individuals, high income/low credit score scenarios, and other situations that require nontraditional underwriting.
Reach out to the loan officers at Union Capital Mortgage for more information and assistance with portfolio loans!
Lets Talk!
Ask us anything – our mortgage loan officers are here to guide you towards the best loan for your lifestyle and financial goals. Give us a call today at 440-585-5626, or fill out our contact form below!
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