Get Experts’ Advice For Land Development & Construction Loans!
Our vast knowledge of Land Development and Construction Loans is very helpful to the Builders, Contractors and other Business Corporations planning to invest in Commercial Properties.
Land Development Loans may be used for:
- Residential development projects
- Recreational centres
- Golf courses
- Industrial or factory sites
- Parking lots or multi-story parking stations
- Retail development and malls
- Hotels or motels
- Storage sites
Once you have qualified for and been approved for a construction loan, the lender begins paying out the money they agreed to loan to you. However, they are not just going to give the builder the cash all at once. Instead, a schedule of draws is set up.
What Happens When Construction is Completed?
When your loan is fully drawn and your property has been completed then your mortgage will convert to principal and interest repayments.
At this time our finance manager will be reviewing the current rates and loan types available to assist you in personalising your commercial property loan to suit your needs and circumstances.