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Lender NMLS: 2826 Trade / Service marks are the property of American Financial Resources, Inc. dba elend. Some products may not be available in all states. This is not a commitment to lend. All loans subject to credit approval. FICO: 740. single family residence. 0k Value ($800K for Jumbo.
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Most of these home construction loans have a limited construction term, often no more than a year. During construction, the lender will disburse money to the builder as work progresses, and you typically make interest-only payments calculated on the amount of the loan that has been disbursed.