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A Royal Banks of Missouri construction loan can help you build the home of your dreams. Royal Banks of Missouri’s mortgage experts will work with you to determine your best construction loan options. Learn more about construction loan terms and requirements before you apply by reviewing the construction loan information below.
Why a Construction Loan?
Borrowers will need a construction loan if they intend to purchase a home in a new development, or if they are building a custom home. Construction loans are designed specifically to accommodate the longer time frame and special requirements of a construction project and building process.
Qualifications and Requirements
When you apply for a construction loan, Royal Banks of Missouri will evaluate your credit history and your ability to make payments during the construction period as well as your qualifications for a final permanent loan. We will also require plans and specifications for construction that are sufficiently precise for us to determine the value of the property after completion. Normally we will require that the construction be completed within 12 months.
Contact Royal Banks of Missouri to discuss your best construction loan options by calling (314) 878-7272. |
