Construction Financing Is One of Five Potential Types of Development Financing
For a development project, there can be several types of financing required in addition to construction financing.
The first type is land acquisition financing that provides the necessary capital to purchase the property. The second type is typically for land development prior to the construction process. The third would be the actual construction financing stage. After construction is completed, some developments, like condo construction, require condo inventory financing to bridge the period between end of construction and sale or long term financing. The last stage required for structures that will be retained is a long term take out mortgage that pays out the construction loan
No Comments
No comments yet.
Sorry, the comment form is closed at this time.