Construction Loans in Knoxville
Is a Construction Loan Right for You?
A construction loan is the ideal type of loan to finance the building of a new home. The builder or home buyer uses a construction loan to cover the costs of all of the materials needed to build the home. Construction loans are short-term and then the builder or home buyer can find a more long-term loan option. It’s important to note that construction loans typically have a higher interest rate compared to traditional mortgages.
John Fleming of People’s Home Equity is here to make the construction loan process a whole lot easier, with tools and expertise that will help you get your new build off the ground.
We’ll help you clearly see the differences between loan programs, allowing you to choose the right one for you whether you’re a first-time homebuyer or a seasoned investor in Knoxville.
Refinancing a construction loan? We can help with that too.
The Construction Loan Process:
- Connect with John to gather initial information about you
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Do I Qualify?
Construction loans are inherently more risky than a traditional mortgage and therefore carry a higher interest rate. They are also a short-term loan, typically financed for one year. Once the home build is completed, the construction loan is refinanced into a more permanent mortgage.
We proudly help customers in Knox County, Hamblen County, Anderson County, Union County, Sevier County, Blount County and more.
Let us help find the right mortgage for you and your family. We'll discuss all of your loan options, what fits best for your budget and for your future plans.
With John Fleming of People's Home Equity, you're guaranteed to be in good hands during the home buying process.
We look forward to hearing from you!
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