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How Construction Loans Work

Construction loans comprise of two steps. The first is the construction loan that funds the time spent for construction. Then there is the u2018permanentu2019 loan, thatu2019s usually a 30-year amortized loan. It includes both principal and interest payments. For more information, visit: 17470 N Pacesetter Way # 124, Scottsdale, AZ 85255 or Call us at: 480-699-1055 https://www.buxvertise.com/5-things-you-need-to-know-when-using-construction-loan-for-a-commercial-real-estate/

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How Construction Loans Work

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  1. How Construction Loans Work

  2. Construction loans comprise of two steps. The first is the construction loan that funds the time spent for construction. Then there is the ‘permanent’ loan, that’s usually a 30-year amortized loan. It includes both principal and interest payments. The construction loan funds the construction process, which usually comprises of six-seven periods of the construction process. The loan usually lasts 12-18 months, depending on the project complexity and speed. The loan then converts into a 30-year amortized mortgage loan. For more information visit - https://www.buxvertise.com/5-things-you-need-to-know-when-using-construction-loan-for-a-commercial-real-estate

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