What Is Construction Loan?
Construction loans involve short-term financing options for a wide building and renovation purposes. Whether your goal is to fix and flip, construct a commercial or residential investment property from scratch or make additional improvements to your existing investments for better returns, then a construction loan is what you need.
If you do not fit the bill for traditional funding options to build an investment property from scratch, then SYLA Lending’s flexible construction loan program is for you!
No longer will you have to waste time trying to adhere to the strict lending requirements of traditional lenders. At SYLA Lending, we prioritize your needs and work fast to ensure that you get the loan you need in no time! To speed up the process, we do not ask for income verification or conduct DSCR calculations. Get in touch with us today to know more about our loan terms and interest rates.
How Does Construction Loan Work?
Regardless of whether it’s a buyer’s or a seller’s market, one thing never changes – real estate investors require financing to grow their investment portfolio and fund their ambitious projects. Our construction loan program has been specially designed to serve this purpose.
Getting a loan from SYLA Lending is as quick and hassle-free as it can get. There are not a whole lot of steps that you’ll have to complete to sign up for our financing program. Simply hit us up with a quote underlining your needs and we will get in touch with you as soon as possible to walk you through the process. You will be required to fill out a form and furnish a few documents that prove your ownership of the property, along with two forms of identification. After this step is taken care of and a proper examination of the property’s value is carried out, you will have the funds you need within a few days.
We know how complicated the traditional loan application process can be. That is why we do away with everything that’s superfluous to the process. Our loans are based on the returns generated from the investment property you want to construct or renovate, not on your income or credit score!
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Advantages Of Construction Loan
In addition to the process being less time-consuming than traditional loans, Rental Property Refinancing has multiple benefits for their end-users. Here is a list of advantages listed
- No Income Verification: Self-employed or starting out as an investor? Not to worry! We don’t need income proof documents to approve your loan.
- Flexible Payment Options: A wide range of payment structures for your benefit. Choose from interest-only, fixed-rate, and adjustable-rate mortgages.
- A Plethora Of Investment Avenues: No matter what kind of property you want to build for profits, there is a huge chance we can help! Check with us to know if your plan is eligible.
- Quick Approval: Don’t let good projects slink out of your hands because of a lack of financing. We approve loans in record time!
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Eligibility — How To Qualify For A Construction Loan?
Visualizing a swanky investment condo in place of a run-down one? Want to give your existing property a facelift to attract more renters? Thinking about building property right next to a commercial hub? If any of these ideas are keeping you up at night, then our commercial loan program is for you.
In the case of renovations, the loan you will obtain will be dependent on the projected value of your property after it’s all spruced up. Regardless of the size of your construction project, we will be there to help you during the lending process, every step of the way. If you do not want to wait ages for your loan to get approved, get in touch with SYLA Lending as soon as possible. Hit us up to know your interest rates.
Where To Get Construction Loan?
Have a construction plan in mind for a property that can bring you huge monetary returns? We would love to finance your dream and make it a reality. Feel free to get in touch with us for more information. Give us a call today.