Construction Loan Article Center

Friday, December 01, 2006

14. When will my loan payments be due?

This depends on your construction lender. There are various ways this could be done. For example, some lenders don't require any payments during the construction period. There may be an interest reserve incorporated within your loan amount. You may even have enough funds within the construction loan to carry you through the whole construction period. Our Construction-To-Permanent Loan program includes an interest reserve in the loan. Of course, if you use the money faster than expected, you will have to make some payments from your own funds outside the loan during the construction period.

Refer to our construction budget page for further explanation.

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