Construction loans through Anchor Banc are uniquely structured, so that the borrower only pays interest for up to two years or until the project is complete.
In many instances theseinterest payments are included in loan proceeds. This gives ample time for the project to be completed before monthly principal and interest payments commence.
Various construction costs , as well as closing and soft costs such as architectural renderings, title insurance and survey costs can be included in the loan. This way you can keep yourliquidity strong until the project is completed.
Low Down Payment: While conventional construction loans need 35% down, our requirements are between 10% and 20% depending on the property type under the SBA 504 Construction Loan Program.
