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Funding: Which companies grant 100% new building loans?
Do not hesitate to get in touch with me directly - here is a quick glimpse of the mortgages we offer: CTP loans can be for primary and secondary dwellings for the building of land, land purchases, demolition, renovation/addition, module houses, block houses, floor houses with loans up to $2.0 million. It is a Civic Bank portfolioproduct, we can fund up to 90% of the total investment.
Citizens is one of the few creditors who will lend 90% LTV without MI at this point. It is a real "one times close" building credit where the first 12 month of the repayment is only interested during the building period for the beneficiary. Once building is completed, the credit turns into a fully amortised credit with capital and interest paid.
Mortgagors have the option to further amend the loans if they have extra saving or losses at the moment of completing or modifying the house (e.g. selling an already built house in the middle or even after construction). Let me repeat once again: there is no need for double degrees, not even in the example above. The acquisition cost for the debtor is the usual acquisition cost for a mortgages, a buy or a refinancing.
If we need an individual drawing plan, citizens can comply with the contractual terms that have been established and agreed. If you are the client, you can receive up to 10% deposit on the conclusion of the building credit for seed capital. These rates mean both building and permanent rentals and make it easy!
Loans from CTP can be for primary and secondary dwellings for earthworks, land purchases, demolition, renovations/additions, module houses, block houses, floor houses with loans up to $2.0 million. No paperwork, no checking on loans, no finances. Individuals need a payout plan to be included and/or provided in the agreement, and need a copy of a licence and assurance required for the condition in which they are constructing (if applicable). This fact alone makes this a relatively easy procedure for our clients in our team.