Many homeowners use construction-to-permanent financing programs where the
construction loan is converted to a mortgage loan after the certificate of
occupancy is issued. The advantage is that you only have to have one
application and one closing.
Depending on your view on interest rate trends, you could also purchase a
rate-lock agreement valid through the expected completion of the
construction. Just make sure you allow for the inevitable construction
delays.
A construction loan, unlike a mortgage, isn't meant to be around for a long
time. If you're taking out a $200,000 construction loan for six months and
you pay an extra 0.5 percent on the loan, it costs you an additional $250.
(Assumes an average $100,000 loan balance over a six-month construction
period.)
You may be willing to pay a higher rate on the construction loan if you're
doing construction-to-permanent financing and can get better mortgage terms
or a longer, better rate lock from that lender.
Nevada Construction Loans
Construction Loans for Nevada Homeowners! We've Got Just The Right Loan, For All Types Of Nevada Homes Including Log, Timber Frame & Modular Homes
Construction-To-Permanent Loans One loan, one closing and one set of fees! Get Nevada construction financing and permanent financing all in one loan.
Lot Loans Looking to purchase a Nevada residential lot for future construction of your primary residence or vacation home? If so, our Lot Loan is the right loan for you. And when you are ready to build, we will help you with your Nevada Construction-to-Permanent Loan.
Remodeler Loans Designed for Nevada homeowners looking to improve a primary residence-new kitchen, bigger bathroom, room addition and more!
Bridge Financing Don't wait to sell your old Nevada home before building your dream home. You can access equity in your current home to use as the down payment on a Construction-to-Permanent Loan.
Nevada is a rugged land, a land of vast open plains, sheep, cattle, spectacular deserts and magnificent mountains. The name itself comes from the Spanish word meaning "snowcapped." The Sagebrush State is the driest state in the nation, with an average annual rainfall of only about 7 in., much of Nevada is uninhabited, sagebrush-covered desert.
Recently the state has seen a housing boom, as people head for sunshine, and the gaming and tourism industries in cities like Las Vegas and Reno help keep the state economy thriving.
Loan Programs & Options Smart Home Mortgage Loans inc. offers many loan programs from the primary lenders in all 50 states. Our lending institutions provide home purchase, second home equity, mortgage refinancing, and refinance loans. Whether you are searching for conventional, non-conforming or subprime refinancing, our company can connect you with the finest financing providers online.
Home
Financing Basics For those of you who didn’t get a finance degree from a graduate business school, we created this section so that average homeowners can understand the basic for refinance and purchase mortgage loans. Our site will provide you with mortgage references and relevant definitions for loan terms so that you can make wise finance decisions that involve residential mortgages.