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Rainmaker
2,062,524
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Shoudl ask a mortgage broker. 

Jun 19, 2019 08:55 AM
Rainmaker
1,596,596
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea. 

Jun 19, 2019 08:31 AM
Rainer
317,600
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Very. In new construction the Borrower is married to me for a year, we exchange information and I guide them to completion. Existing sale or refinance it's an intense short term 20 -30 day relationship with emails and greeting cards for holidays after.

Mar 27, 2019 05:20 PM
Rainmaker
4,209,382
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

They are paid out in stages referred to a construction draws with interest only payments and repayment in full is normally due after all payouts are complete. In recent years some loan types are referred to as construction to permanent. 

Mar 27, 2019 04:07 PM
Rainmaker
894,690
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Temp to perm construction financing is absolutely different from a conventional mortgage. That's where interim financing is followed by permanent financing once the home is completed.
However, some banks can do a one time close. You should Google these and look into it.

Mar 27, 2019 03:51 PM
Rainmaker
910,796
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

There can be numerous nuances of differences among mortgages whether for new construction or resale home.

Mar 27, 2019 02:51 PM
Rainmaker
960,861
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

That is a good Q for a mortgage lender.

Mar 27, 2019 01:07 PM
Ambassador
3,055,932
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I wish you all the best with your real estate studies. 

Mar 27, 2019 12:46 PM
Rainmaker
4,042,729
Richard Weeks
Dallas, TX
REALTOR®, Broker

Are you talking about a property that is already built or one that is being built?

Mar 27, 2019 12:08 PM
Rainmaker
5,571,886
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

there are many mortgage people here who have that answer....

Mar 27, 2019 10:51 AM
Rainmaker
1,899,324
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

They are very short term and granted with the understanding they will be paid off quickly or rolled into a typical mortgage once the work is done kennith Frazier 

Mar 27, 2019 10:45 AM
Ambassador
5,408,079
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Talk to a lender about this one.

Mar 27, 2019 10:38 AM
Rainmaker
6,606,557
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

There can be many different structures. Talk with your trusted local mortgage loan officer who deals with contruction loans.

Mar 27, 2019 10:31 AM
Rainmaker
5,586,557
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Agree with Nina Hollander 

Mar 27, 2019 10:06 AM
Rainmaker
1,921,264
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

This is a great question for a licensed mortgage broker Kennith. 

Mar 27, 2019 07:27 PM
Rainmaker
4,116,787
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

They are not. But I suggest you ask a mortgage lender.

Mar 27, 2019 10:04 AM
Rainmaker
4,938,383
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I am a REALTOR, and don't do mortgages.

Apr 15, 2019 02:23 PM
Rainmaker
1,387,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In my experience, not that different.  Of course the homes were built by the time my family bought them.

Mar 27, 2019 08:40 PM
Ambassador
4,257,353
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Vastly different!

They are a 2-part process with the first part being broken down into draws paid to the builder as they get through each stage of the building process.

Once a CO is obtained and the final draw has been paid, the home moves into the 2nd part of the process which is the final, permanent loan (like a regular mortgage).

Mar 27, 2019 08:21 PM