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Q: Is Construction Loan Company a Broker or a Direct Lender? A: Construction Loan Company is a Direct Lender. We are licensed by the State of California Department of Corporations as a California Finance Lender. Q: Do you only make construction loans? A: Construction Loan Company only makes construction loans. Banks, Thrifts, Savings & Loans and Credit Unions all say they can make a construction loan, but seldom do. Quite simply, they have far too many other ways to lend money. We believe that it's better for us to be very good at one thing than to be average at dozens. Q: How much of a downpayment will I need to get a construction loan? A: Our loans are 0% Down with 100% Financing! All points and fees are built into the loan. Q: How large will my monthly payments be? A: There are 12 monthly interest payments which are already included in your loan so that you won't need to make any payments out of your pocket while you're constructing. Q: Do you have a substantial pre-payment penalty? A: There are no pre-payment penalties whatsoever! In fact, just the opposite. We offer a buy-down provision to reduce your interest rate for the entire loan if you can pay us off quickly! Q: What if I have a prior bankruptcy or bad credit? A: Our loan is a Transaction based loan.
The loan is subject only to the Future (completed) Value of the project. Q: What types of construction do you finance? A: We finance:
Q: How long will it take before I get my construction funds? A: Construction lending approval happens almost immediately. However, if there were any delay in receiving your funds, it would be because of Building & Safety issues, not the lender's approval. Q:
How do I get started? A:
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