BFI Blog

Construction Loans

Loans are a form of financing where a bank or financial institution will lend money to a person or business. That money is then repaid over time with interest. Some loans are set with a specific purpose in mind and designed for specific business sectors. Construction loans are designed to be used by developers, builders, investors and consumers for construction projects. Construction projects include, but are not limited to, new builds, remodels, renovations and repairs.Terms of any loan are agreed upon prior to a contract being signed by either party. The terms will include the amount of time required to pay back the lender, interest rates and any stipulations required by the lender. Interest rates are determined by a number of factors like credit worthiness and product, so rates will vary.

    Construction Loan Application Preparation

    As a builder, developer or investor, at some point you have to apply for your first commercial construction loan. Even if you’ve been in the business as part of another team, you may not know..

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    Non-Traditional Construction Loan Types

    There are several types of typical construction loans, but there are also a few lesser known loan-types that may be of interest to builders, brokers and investors: Model loans, land loans and..

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    Construction Loans - Know the Basics

    As any builder or investor knows, construction loans differ from traditional mortgages in a few ways, but knowing all of the different aspects and terms particular to construction loans is important..

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    Do I Qualify for a Construction Loan?

    Whether you are a novice builder or investor just starting out, or someone with years of construction experience under your belt, a construction loan is a vital aspect to the success of your project...

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    Construction Loan Terminology - What it all Means

    If you’re thinking of applying for a construction loan, there is a lot to consider, and while doing your research, you may run into some terms you’re unfamiliar with. Below is an explanation of some..

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