California Construction Loan Mortgage Center:

Construction loans require a seasoned mortgage expert to handle the complexity and details of packaging and submitting your construction project to the appropriate lender. By working with Paul Schectman at Viva Financial, you will have access to many of the largest wholesale construction lenders in the country.  Paul has the knowledge and experience in construction lending to handle your California construction loan financing requirement.

You may find that a small home improvement project can be funded using a Home Equity Line of Credit. However if you are involved in a major home remodel or ground up construction project, it is likely that you will need a construction loan. We have rescued construction projects when individuals have attempted to self-fund from cash and equity line positions, only to run out of money half way through a project. These shortfall situations would not happen if a construction loan was originated from day one. We consult with our owners and owner/builders on the best course of financing for construction projects. If necessary we have lenders that can finance projects that are already in progress, assuming that there is clear title and no mechanics liens on the property.

Most of our construction lenders offer a One Time Close from Construction to Permanent Take-Out Financing. There is only one escrow so that you save on Lender costs, and Title & Escrow fees. During the term of construction you can either lock your rate and build, or float over the Prime Rate during the term of construction. If you choose to float over the Prime Rate during the construction term you would lock in your long term rate at completion of the project. Most of our construction lenders offer from 9 months to 18 months construction terms.

Call Paul Schectman at Viva Finacial to discuss your Residential, Multifamily, and Commercial construction projects in California.