Finish Your Construction Project Smoothly by Securing a New Construction Loan in
New construction loans are specifically designed to help property developers and investors finance every step of the construction process. They are short-term loans that typically carry a term of one year at most. The temporary financial relief you get from securing a new construction loan in Miami, FL, can be the key to the success of your project.
Private money lenders have the authority to disburse the loan amount in installments. They can sync these disbursements with the phases of your project so that you don’t have to worry about a lump sum payment. Take a deeper look into new construction loans with these FAQs.
Frequently Asked Questions
You will need to make monthly interest-only payments during the construction project. After completion, you will be required to pay off the principal and interest amounts within a year.
Your interest rate will depend on your payment and credit history, as well as a few other factors.
Yes. You can use the funds to finance any aspect of the construction process.
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How Insula Capital Group Can Help You
Insula Capital Group is one of the most reliable private money lenders and real estate financing companies in Florida. Our team of expert underwriters has been in the industry for over three decades, making our work insightful and trustworthy.
You can reach out to us for any kind of construction loan you might need. While our new construction loans are only for 1-4 properties, we offer other property loans too. Read about our fix & flip loans, multifamily & mixed-use loans, and rental financing on our website. You can also take a look at our recently funded projects for more information.