Construction Loans
What is a Construction Loan?
It is one which finances the construction of a home, provided in numerous disbursements as progress is made. These loans are interest only while construction is being done; usually over a period of 6-36 months. Once finished, it is up to the borrower(s) to convert the loan into a 30-year conventional mortgage with a different lender.
Western Highland Mortgage provides Construction Loans with the following parameters:
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Spec or Owner-occupied
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Lot is owned free and clear
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Permit fees must be paid
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We will not lend on primary residences; secondary or spec only
Typically we require a 65% Loan-To-Value based on the total cost of construction.
Areas of service include (but are not limited to):
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​Northern California
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Sacramento & the surrounding areas
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Lake Tahoe: All areas of the basin, Truckee & Tahoe Donner
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Lassen County
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El Dorado County
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Amador County
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Shasta County
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Glenn County
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Tehama County
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Butte County
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Mono County
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Alpine County
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Northern Nevada
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Reno & the surrounding areas
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Douglas County
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Washoe County
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