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Statistics from the building industry indicate new single family housing construction has increased 43 percent over the past year in the state of California. These numbers are expected to continue along this trend during the years to come. In an effort to further this current progression, California Construction Loans has launched a campaign to increase awareness of their array of construction loans available to the public.Rick Gomez of California Construction Loans explained, "Our years of experience, along with our sound reputation within the loan industry, have enabled us to build an enduring relationship with our lenders. Having been approved with all the major investors and financial institutions throughout California, we are able to pass a considerable number of loan options along to our clients. On our website, potential loan applicants will find a link to our pre-qualification package, which is their first step to being afforded access to the widest selection of loan options and the lowest interest rates obtainable."
Continued Gomez, "Modern construction loans typically offer one time close and one set of loan fees. Loans of this nature cover the construction loan period and long term financing for dream home construction in the state of California. Construction Lending features include lot loans up to $2 million, construction financing of $3 million and up to $10 million for high net worth individuals, demolition and rebuilding and remodeling. For those who own land or are currently financing land, we can offer many types of construction loans including construction only loans, owner builder loans and construction to perm loans."
Gomez stated, "Individuals with an existing home who wish to remodel have 3 primary options from which to choose. Our first offering is the flexible remodeling loan, geared toward the homeowner planning to make considerable improvements to an existing home. We use both the current value of the home and the anticipated value after the remodel is completed to calculate the ultimate value of the finished product. Our second option is to pay off a current mortgage through the use of a new construction loan. As our most popular option, applicants are able to obtain a loan to pay off their mortgage then request funds to complete their remodel. This option provides a new, fixed interest rate rather than the two combined rates associated with acquiring a second mortgage. Our final option is a home equity line of credit. Current prime rates for this method are around 4 percent. Our loan specialists are happy to assist applicants in determining the type of loan that most accurately fits their needs."
About California Construction Loans:
A subsidiary of Nationwide Construction Loans, Inc., California Construction Loans offers a variety of loan options for those interested in new home construction or the remodel of an existing home. They are approved by all major banks and investors in the state of California, and they are able to offer clients the most favorable options and interest rates available.
Contact Info:
Name: Rick Gomez
Email: Send Email
Organization: California Construction Loans
Phone: 619-222-1059
Website: http://www.californiaconstructionloans.com
Release ID: 18490
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